USDCAD 4hour 12/15/19

USDCAD Short Idea

Higher time-frames show that price action has been ranging within the 1.33500 - 1.30000 area and has yet to make a break to the up or downside

On this daily time-frame we have been seeing lower highs forming and price action is once again heading toward support at the bottom of the range

For us to target lower a break and retest of 1.31450 would be ideal and the drop to 1.30000 would become very likely

However, if we see price reverse at 1.31450 it would need to break 1.31930 to start the transition to the upside on this time-frame