Ransquawk

USD/CAD is characterized by one of the highest dynamics recently. Almost every day, the pair has a new maximum, and yesterday the level of the series of highs from the end of last year was broken. The situation on the weekly chart also looks interesting. Here, the quotation system resembles a double bottom formation. Everything indicates continuation of upward movement in the nearest future. A possible correction, a kind of re-test to the area of 1.29 should rather be used to look for opportunities to find yourself on the long side of the market. Chart W1 shows that the closest barrier for demand can be the line connecting the two previous maxima. This means that the nearest space for growth is quite large.

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Ransquawk