USD/CAD drops right now and it could test and retest the minor downtrend line. Jumping above it signaled that the pair could develop an upside reversal. Still, the reversal is far from being confirmed.
Personally, I believe that USD/CAD may develop a new upside movement, strong growth, only if it jumps above 1.2173 and 1.22 levels. The 1.2173 former high represents a strong upside obstacle. So, passing above this level could signal a potential upside reversal.
Trading Conclusion!
Buy USD/CAD if the price jumps above 1.2173 level and beyond 1.22 psychological level. The next upside targets could be at 1.23 and 1.24 levels.
