USD/CAD. The pair US Dollar against the Canadian Dollar continued its rebound from the support area of 1.3540 during the past trading week, which we started last week, and even got some upward momentum that led the pair to the resistance area of 1.3720. In my opinion, in the current situation, the pair is clearly not ready to break through 1.3720 and establish above it, as the US Dollar is under pressure here and clearly losing the local battle to the Canadian Dollar. Therefore, it is not surprising that we even had a slight pullback without reaching 1.3720. I don't think that anything will change drastically next week, and most likely we will continue trading below the resistance, possibly making another attempt to decline towards the 1.3540 area with the goal of retesting last week's lows.
