Ransquawk

USD/CAD today during the morning trading hours broke a significant resistance zone at 1.3175, showing further demand pressure. Directly before the breakup, the two trading sessions were a typical consolidation, which indicated the possibility of a more volatile move in the close future. Now we know which direction pair has chosen. Currently, after overcoming the resistance zone, the target level for the pair is zone 1.3289, resulting from the level tests of 19 and 20 July this year. If the pair wants to keep the upward trend, during the approach, it can not exceed the last confirmed low marked in the graph in the form of a black dotted line. If the low is breached, then we will talk about the negation of further growth potential and return to the consolidation band between zones 1.2980 and 1.3175.

Leave us a comment!

Ransquawk