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USD/CAD Technical Analysis

The USD/CAD pair initially fell during the course of the session on Thursday, but found enough support down at the 1.24 level to turn things back around and form a nice-looking hammer. Because of this, it appears of the market is ready to continue going higher, and if we get a move above the 1.25 handle, we believe that this pair will continue to grind itself much higher. Ultimately, the 1.28 level will be the target, but also offers quite a bit of resistance. We believe we get above there we can head to the 1.30 handle, but that of course is a longer-term move.

USD/CAD Chart

usdcad19

Source :FXEMPIRE

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