USD/CAD is still bullish. It may resume its growth as long as it stays above the uptrend line. The pair failed to retest the uptrend line in its previous attempts signaling strong buyers. As I mentioned in my previous analysis, USD/CAD could resume its growth if it jumped above the immediate former highs.
Now it has decreased a little. It could come back to test and retest the former high of 1.2606 before resuming its growth.
Trading Conclusion
Technically, USD/CAD is expected to resume its upwards movement after jumping above the former highs. 1.2700 psychological level is seen as an upside target.
