‘Cold Water,’ Olivier Assayas’ brilliant 1994 film, finally arrives in the U.S.

There are a few different meanings for the title of the 1994 French youth drama “Cold Water,” an early triumph for the writer-director Olivier Assayas that is only now receiving a proper U.S. theatrical release.

An intimate, enveloping tale of romance and rebellion set in 1972, the film opens in…