USDCAD Took The Last Two Days Off

The USDCAD has been traveling in a narrow 30 pip range over the last two days.  The cross has not lost ground as oil has tumbled. In the short-term as long as the pair does not close above the descending daily trend line that has contained price action since last February at .9675, the path of least resistance is higher.  An inverse head and shoulders could be forming in the one hour chart.  Resistance now rest at .9775.

Sup    .9675

Res    .9775

Keane Plan...Looking for a break of resistance at .9775

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