USD/CAD Bullish Channel in Progress

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

The USD/CAD has broken the POC to the upside, and the bullish channel still holds. 1.2640-55 is the POC zone and further appreciation of the pair might happen if 1.2673 breaks to the upside.

The price is rejecting the POC and at this point, it looks like it could break the bullish channel too. Watch for possible closes above D H3 – 1.2673 and a continuation towards 1.2699 and 1.2741 if D H4 breaks. However, break below D L3 -1.2622 might target 1.2575 the confluence of ATR/W H1 Pivot.


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