Overview
The USD/CAD pair retested the level of 1.3574 yesterday and held stable above it, resuming its positive trading and attempting to build support base above 1.3600 barrier. It reinforces the expectations of more rise in the upcoming period, and the way is open to head towards the lelev of 1.3837 which represents 61.8% Fibonacci correction for the decline measured from 1.4688 to 1.2459. Therefore, the positive scenario will remain valid on the intraday and short-term basis. Breaking the 1.3574 mark will put the price under negative pressure with targets begining at 1.3455 and extending to 1.3310 in the near term. The expected trading range for today is between 1.3574 support and 1.3750 resistance.
The material has been provided by InstaForex Company - www.instaforex.com
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