FX.co ★ USD/CAD: upside continuation signaled

USD/CAD Up-Channel!

The USD/CAD pair extended its growth and now it is trading at 1.3103. The price climbed higher within an ascending channel. As long as it stays above the uptrend line, the price could approach and reach new highs.

The 1.3076 historical level (previous high) represented an upside obstacle. Jumping and stabilizing above it signaled strong buyers and potential further growth.

USD/CAD Trading Conclusion!

As you can see on the H1 chart, the USD/CAD pair tried to retest the broken 1.3076 level confirming the breakout. As long as it stays above this level, the currency pair could climb towards the channel upside line and up to the 1.3167 former high.

Retesting the 1.3076 and jumping above yesterday's high of 1.3104 was seen as buying opportunity.