USDCAD H1 Channel

USDCAD H1

Rejected from the highs, pair is pulling back from channel's upper trendline. This channel is in place since 9-Nov. 

200EMA comes just below the lower trendline. 100EMA is above the trendline. 200EMA has been a good indication of trend direction in this pair.



I will be looking to short any bounces towards channel's upper trendline for a possible move towards lower trendline or 200EMA.