Technical outlook and chart setups:
1. The USD/CAD pair is hanging around the past support turned to resistance levels around 1.0810/30 levels for now. The pair had broken out of the falling line of resistance earlier, so it is quite possible that the rally could continue but after a dip.
2. Support is seen at 1.0700, followed by 1.0625 and lower, while resistance is seen at 1.0900/50 respectively.
3. The structure indicates that USD/CAD could continue the uptrend but it needs to retrace before that.
Trading recommendations:
Remain flat. Look to buy on dips.
Good luck!
