USD/CAD Forecast. Forex Analysis

news_22_feb_cad_usd_1The USDCAD is trading at 1.3332, above the Ichimoku cloud, which means there’s an uptrend forming. We expect a test of the lower cloud boundary at 1.3325, and then an upward pullback to 1.3415, which may be confirmed with the price bouncing off the support area.

This rise may be prevented in case price breaks out the lower boundary and closes below 1.3305, which will be a signal for a further fall to 1.3205. The rise confirmed once the the upper boundary of the triangle is broken out and the price closes above 1.3365.

USDCAD

Orgin: RoboForex

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