USD/CAD has fallen quite sharply since the beginning of the month, and prices are pulling back towards some technical levels that may provide support this week. Watch for signs of selling fatigue to set in around 1.2800/70. Note the daily RSI fairly close to 30 in a prevailing uptrend (this is just complementary info). If prices do bounce like I'm expecting, 1.3050 would be a good initial target. I'd really like to see a candlestick similar to that of July 29 where sellers are present during the European session but don't manage to hold buyers at bay during the North American session. The extent to which I hold a bullish biais on USD/CAD this week will be largely influenced by such price action.
