USD/CAD: wedge breakout

The Loonie did breakout on the upside from the falling wedge pattern, now testing a resistance level at 1.0336. FED holds rate meeting today therefore I will entery very cautiously in case of any signal.
On the broader picture the daily chart shows that the recent downswing reversed at the 78.4% fibo level of previous upleg. The partial retracement inside the trend channel suggests a possible attempt to reverse the downtrend but on the short term I still favor the downside.


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