The pair posted some gains today but they were short lived as the US dollar could not go above yesterday's high of 1.3211. USD/CAD is now trading at 1.3171 faced with first resistance level at 1.3211, second level is seen at 1.3383 and major resistance is seen at 1.3600.
Main trend continues to be bearish on the long-term but if bulls get good indications for a potential appreciation of the US dollar, the pair will embark on its upward journey supported by strong US financials.
Chart: USD/CAD H4
That's good to know, thanks.
ReplyDeleteI think it will continue moving to the upside.
ReplyDeleteGood posts, very helpful for all traders.
ReplyDeleteVery helpful information, thank you!
ReplyDeleteI like your understanding of the analysis.
ReplyDelete