USD/CAD Retesting Buyers!
The USD/CAD pair dropped a little in the short term after reaching the 1.3692 level. Now, it is trading at 1.3554 at the time of writing. The uptrend line and the 1.3507 represent downside obstacles. As long as the pair stays above these levels, it could give birth to a new upside movement.
The 1.3692 former high stands as an upside obstacle. Only dropping and stabilizing below the uptrend line could invalidate an upside continuation.
USD/CAD Forecast!
The rate could increase again after testing and retesting the uptrend line at 1.3507. Still, only a new higher high, jumping and stabilizing above 1.3692 could really confirm an upside continuation.
Dropping below the downside obstacles may announce a strong downside movement.
