FX.co ★ USD/CAD Targeting New Highs!

USD/CAD continues to increase and it could approach and reach fresh new highs soon. I've told you in a previous analysis that the pair is somehow expected to resume its growth if it stays above the 1.2470 level.

The next upside target is represented by the 1.2638 level. Now it tries to stabilize above the 1.2583 previous high. Climbing above 1.2594 yesterday's high could indicate further growth. It remains to see how it will react around the 1.2600 psychological level.

Trading Conclusion!

USD/CAD was expected to resume its growth after failing to stays under the 1.2470 level (former high). It has moved a little sideways around this level attracting more buyers. The next target is seen around 1.2638 next higher high.