USD/CAD resumes rising. - Technical Analysis - 04-01-2016

USD/CAD resumed rising in its intra-day levels trading, with the complete overall guidance of the main upward trend in the short and medium terms, and with the pair trading within an ascending price channel that limited its previous movements in the medium term, and with relative power indicators reaching extremely oversold levels, sending thereafter positive signals, and along with positive support from the simple moving average for the last 50 days period; which helped the pair settle above the support of 1.3839.

 

Therefore we reaffirm our positive forecasts for the pair, targeting thereafter the resistance of 1.4080.