Sasha Singh
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USDCAD : Bullish Attempt, Might Break Above the Rising Channel Today

USDCAD : Daily Chart

USDCAD is surging today regaining strength as demand for US dollar continues to be supported amid the expectations that Fed might start increasing interest rate soon. The pair is following a rising channel trend on the daily chart and might find resistance from the resistance trend line of the channel. However if it is able to cross above it the next nearest resistance is at 1.1172. The pair seems like aiming for 1.1275 level. The losses seems limited on the chart. The New Home Sales report releasing today if beats economist's expectation might boost the gains in pair.

USDCAD : 4 Hour Chart

On the 4 hour chart also the pair is following a rising channel trend and approaching towards the resistance trend line.