However, this has not translated into clear ranges; but rather frustrating chop with minor breakouts. USDCAD Range A Quick Setup With High Risk And High Reward Much of the currency market has supplanted trends with broad congestion. However, this is only true to a point. This pattern produces little pressure of its own; but a rising trend. USDCAD personifies these conditions with a forceful, rising trend channel that is putting pressure on a much larger technical formation. 1.3000 (Range High, Fib) -Range Bottom.

1.2670 (Trend, Fib, Pivot) It is sound, fundamental reasoning to expect the currencies for two economies whom are each other € largest trade partners to find a natural buffer to volatility. In the past, USDCAD price action has seen periods of clear trend and tremendous breakouts.

Such conditions may be an issue for this pair going forward as the market weighs the health of risk appetite (and the dollars correlation to such trends) and the presence of event risk from both sides.

USDCAD has been developing a very wide, ascending triangle formation since October.