USD/CAD has dropped a little in the short term, but the decline was only a temporary one. I've told you in a previous analysis that USD/CAD could increase if it stays above the 1.2470 level.
It's located at 1.2517 level and it could resume its growth after a temporary decline. It could slip lower after today's rally trying to attract more buyers. A minor decline could bring a new upside momentum.
Trading Conclusion!
Passing above 1.2532 today's high could indicate more gains and a potential growth towards 1.2600 psychological level. It could increase as long as it stays above 1.2470.
The bullish scenario could be invalidated by a drop below 1.2443 low.
