Sasha Singh
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USDCAD : Might Again Try Break Above 1.1272, Bullish Trend Continues to Dominate

USDCAD : Daily Chart

US dollar seems supported against Canadian Dollar on the daily chart as the pair is following a rising channel pattern. The pair will continue to rise until it find resistance at 1.1272 which earlier also resisted the pair rising further. Currently the pair is testing resistance at 1.1223.

USDCAD : 4 Hour Chart

On the 4 hour chart, the pair seems like following an ascending triangle pattern according to which the pair should continue to break out above the resistance at 1.1221 and might try to break out above the resistance at 1.1272 this time.

USDCAD : Hourly Chart

On the hourly chart, the pair is currently testing support from the rising support trend line of the ascending triangle and might continue to rise. If it is able to hold gains above it, the pair should break above 1.1218. However if it decline below the rising support trend line, it might find the next support at 1.1185 or at 1.1171.