Weekly chart looks the red line should offer resistance.
Looking in closer 4-hour time frame, there are more resistance reasons as shown below.
resistance of upper channel
resistance trend line (cyan)
Note
Potentially, this is what I think is likely to happen - an inverted H&S.
Long term, I am bullish and definitely see a much higher probability that the UC will break aggressively out of this weekly descending resistance and CAD will drop back down to 70 cents area.
In the meantime, we could have a rejection of this weekly desc. resistance, leading up to the formation of a right shoulder.
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