The USDCAD is trading at 1.3392, above the Ichimoku cloud, which means there’s an uptrend forming. We are expecting a test of the upper cloud boundary at 1.3365, and then a downward pullback to 1.3555, which will be confirmed with the price bouncing off the upper boundary of the descending channel.
This rise may be prevented in case price breaks out the lower boundary and closes below 1.3285, which will be a signal for a further fall to 1.3175.
Orgin: RoboForex
