USDCAD - Swinging Long In The Interim

While I think that there is a short bias on this pair, there are also opportunities to play the upside on an intraday/short time frame basis. The new trade agreement between the USA, Mexico and Canada has seen the pair decline from above 1.30 to below 1.2786. At current levels the price is breaching the downward trend line as per the 15-min chart. Traders could wait for a pullback (from the breakout) before going long again.