USD/CAD rises with the help of a positive pattern. - Technical Analysis. - 11-01-2016
USD/CAD kept rising in the intraday levels, with the overall dominance of the upward trend in the medium and short terms, and with positive support from the simple moving average for the period 50. The pair has formed in its recent trading a positive technical pattern that is complimentary to that upward trend, which is the Flag pattern as shown in the attached chart, succeeding thereafter in breaching the ceiling of that pattern, and going on afterwards to attack the resistance of 1.4169.
Therefore we expect more gains for the pair, especially if it broke though the resistance of 1.4169, targeting thereafter the resistance of 1.4243.