USDCAD Triple bottom at support

2019-12-12 14:49:25

Price has stalled around the 1.31600 level again.
As you can see there is strong structural resistance.

There are two plays in mind,
1) A break through this resistance line, small retest and continual bearish movement.
2) A rebound from this line, and a bullish momemtum.
I have marked a minor trend line on the 15minute chart for a tight entry. Stops for a bullish move could be around the 1.31500 mark.

There is divergence on the RSI to support my preferred bullish movement. This has occurred on numerous charts.