After making a pullback on 1.0254 and the upper limit of its medium term bearish channel former (black dashed lines), the USD / CAD pair embarked on a rally. The currently testing a major resistance 1.0363. This is a key level for the medium term trend.
We recommend treating the pair according to this level:
- Long (buy) above 1.0363. We can then target 1.04 and 1.0439 in extension
- Short (sell) below 1.0363. A look back at 1.03 and then the 1.0254 support are the primary objectives.
