USDCAD has come close to our short-term target of the 38% Fibonacci retracement. Price is now pulling back towards cloud support. I expect price to bounce off that area.A
USDCAD has broken above the 4 hour Ichimoku cloud. Short-term resistance has been broken and we now expect prices to move higher. The current pull back is expected to reach cloud support around 1.31-1.3080. A bounce off that area will confirm our bullish expectations. Resistance is found at 1.3145 and breaking above it will open the way for a move towards the 61.8% Fibonacci retracement near 1.3270.
