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USDCAD short drop before a mega rally?

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Price has been held at a possible weekly chart trend line but if you delete that line and look at other indicators it seems like the upper channel is likely to be hit before the rally ends.

USDCAD-Daily_250120.thumb.png.4aec4d58f1c0624a0dfdbac9b298b1f8.png

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USDCAD at the top of the LT channel.  Breakout or hold?

Pressure on USD today it seems with USDJPY down and GBP and EUR holding at key support.  I wouldn't put it past CAD to reverse here for at least another round trip to the bottom of the channel.  NMD on 4H and 1H and 1-5 on the rally (FWIW).

USDCAD-Weekly_070220.thumb.png.bf148d73ff70654779913c9078a28654.pngUSDCAD-4-hours_070220.thumb.png.d04f9564d52dd63d70827b32dcc55013.png

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My monthly chart resistance trend line appears to have held on NMD so far and now with Oil potentially breaking into  rally this pair could be about to move south big time.

USDCAD-4-hours_130220.thumb.png.09eb8615850a6dbc2a75c2752d4878f4.png

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Probably allied to the Oil move, USDCAD is knocking on the door of a support break after that LT trend line resistance held.

USDCAD-4-hours_140220.thumb.png.ccc8886e4c9541822f2b6dc48b84409a.png

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