USD/CAD Recovering

The USD/CAD pair is seeing massive support from traders and investors shortly after making a multi-month low at 1.2460. Since the beginning of May the pair has been trading to the upside with only a few days of losses.

Currently, price was able to break out from the double top on the short-term at 1.3150 and is currently trading at 1.3163.

First bull target is seen at 1.3220, then 1.33 and then we have to take over the 200SMA in order for the bullish trend to be confirmed.

Chart: USD/CAD D1