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For those of you waiting for USDCAD to put in for some dramatic price action in the near term (which I do not believe it will see until 0.9750-1.0350 range falls), you should look at the loonie crosses.
CADJPY has been cutting a far more consistent range in an ascending wedge with a horizontal level of resistance on a big 38.2% fib at 107.15.
Far more interesting in my opinion though is AUDCAD. A bullish channel has been very strong with this pair, and the momentum has seen its first major ceiling (at around 0.9830/40) since it got underway at the beginning of this year.
This same resistance level held up to back in early 2005 as a level of resistance and now it has modest strength against an incredible trend. Going to be interesting to see how this plays out.
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