USD/CAD extends its growth
The USD/CAD pair resumed its upwards movement as expected after jumping above the 1.2676 former high. You know from my previous analysis that the pair could climb towards new highs if it stays above the downtrend line and if it passes above the 1.2676 level which represented an upside obstacle.
USD/CAD retested the level of 1.2676. As long as it stays above it, the price could climb towards new highs. The next upside target is represented by the 1.2791 level.
USD/CAD trading conclusion
A break above 1.2676 followed by a retest signaled potential upside continuation and it was seen as a buying opportunity with a first upside target at the 1.2791 former high. Passing above this upside obstacle indicates further growth.
