pair bounced slightly during the course of the day on Tuesday, using the 1.2900 level as support. At this point in time, the market is looking bullish
. The primary trend of USDCAD
on charts and price is trading below its Resistance trend line
in its 1 hourly chart. In its daily chart
the price is sustaining above 100 day SMA
that are appears on the above image indicating uptrend of the pair.
1.2965 Support level
If it breaks its resistance level
on the upside and sustains above it then we can expect it to show further bullish
movement in the pair.
is sustaining in its positive territory indicating the bullish trend
in the pair.
is sustaining in its buying zone indicating the upcoming positive trend in the pair.
is looking bullish
on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.