The USD/CAD retreated from 1.33 once again, highlighting a potential lower ceiling. The problem for bears, however, is that key trendline support (originating from late 2017) has buoyed once again. That said, it is far too early to declare victory for dollar bulls, but the fact that trendline support held up again is a good sign and potentially shifts the immediate focus to clearing 1.33 again. Either way, there's clear technical markers that could potentially highlight key technical themes in both directions.
