Support levels: 1.0650, 1.0539, 1.0458
Resistance levels: 1,0858, 1.0990, 1.1100
Yesterday, the USD/CAD currency successfully broke the mark 1.0750 and the key resistance level at 1.0779. USD/CAD reached its high at 1.0858 retracing thereafter.
The pair is expected to uprise to 100%- projection 0.9930 at 1.0741 to 1.0102 at the level of 1.1126.
Moreover, as it was stated before, breaking the significant resistance level will cause the growth of the pair to the Fibonacci correction level 38.2 from 1.3063 to 0.9930 at 1.1126.
If the support level of 1.0650 gets broken, USD/CAD will be able to fall to 1.0539. Though, a short-term attitude to the currency pair will remain bullish until the support level of 1.0539 is broken through.
In a mid-term outlook the break of the main resistance level of 1.0779 indicates the rebound of a declining trend from 1.3063 to 0.9930. USD/CAD is expected to upmove to the level of Fibonacci correction 61.8 from 1.3063 to 0.9930 at 1.1867.
