USDCAD prepares to rally higher – Technical Analysis – 12-11-2015

The USDCAD pair declines recently to retrace the main short term bullish trend, amid trading within an ascending channel, to form positive formation represented by the flag pattern that appears on the above chart, supported positively by the moving average 50.

Therefore, we expect rising in the coming trading, especially after breaching the mentioned flag’s resistance, targeting 1.3450 key resistance.