Currency analyst

USD/CAD: bulls are driving the market

On the daily USD/CAD chart the bulls aim to test the upper border of the triangle (1.3186). Successful break of this resistance will allow the pair to rise to 1.3306 (38.2% Fibo of the last decsending wave and 1.3540 (161.8% target according to AB=CD). The buyers are holding the initiative.The main recommendation is to buy the US dollar on the pullbacks down.

On H1 USD/CAD is trading within an uptrend. The level of 1.314 acts as a target (target at 161.8% according to AB=CD). The nearest support is at 1.3075.  

Recommendation: BUY 1,3075 SL 1,3 TP1 1,33 TP2 1,354. 

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