USD/CAD Trend Reversal

After dollar cad is look extremely oversold after a massive move on the downside for so long now, it seems to have stalled down at 1.06184. Since Friday the pair has surged 115 pips up to 1.07519 and this is where we seem to see some resistance as its previously stalled here back in June. Due to the oversold conditions, there could potentially be a very good place to get in on a buy on the break of this level, but then again if it stalls and hangs around for to long, perhaps a short term sell could be a good trade. But like I said due to the oversold conditions and the recent surge, I feel like there should be a big move on the upside to come and a potential boost with all the data we have out tomorrow.