USD/CAD: price to test next resistance

USD/CAD: price to test next resistance

Information is not investment advice

There's a bullish 'Three Methods' pattern, which has been formed above the 55 Moving Average, so the price is approaching the nearest resistance at 1.3559. If a pullback from this level happens next, there'll be time for a downward correction. In this case, we should watch the nearest support at 1.3386 as a potential bearish target.

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Levels for trading USD/CAD

To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).  

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