On the M5 timeframe for USDCAD, the price has been consolidating between 1.3785 and 1.3812, with a notable bullish breakout forming near the recent low of 1.37858. The candle closing at 1.38067 (volume 224) shows strong buying pressure, confirming a reversal from the prior downtrend. The entry level at 1.37967 aligns with a key support zone established by multiple low bars, including the 1.37892 level, which acts as a critical psychological barrier. Volume spikes around these levels indicate heightened interest, reinforcing the validity of the support and potential for a sustained rally. The current structure suggests a bullish setup with…

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