USDCAD has been following a descending channel price action for weeks with no end in sight. With this weeks return to the inside of the channel we are presented with a nice trade opportunity, as it has failed to close above the 61.8 retracement of the last impulse leg. We have wicks reaching almost to the 78.6 level. Tomorrow USD releases CPI data which could be the catalyst to continue the expected bearish movement in the channel. Along with DXY exhaustion at the same time, this trade looks as solid as stone.