FX.co ★ USD/CAD: upside to follow

USD/CAD Strong Buyers!

The USD/CAD pair developed a strong upside movement today and now is trading at 1.3655 at the time of writing. You knew from my previous analysis that the price could come back higher and it could resume its growth as long as it stays above the uptrend line and above 1.3507.

Its failure to test and retest these downside obstacles signaled strong buyers and an upside continuation. 1.3692 represents an upside obstacle.

USD/CAD Trading Conclusion!

Jumping and stabilizing above 1.3692 activates more declines and brings new buying opportunities.