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The USD/CAD is still upward biased, snapping three days of consecutive losses. Although the pair tested the 20-day Exponential Moving Average (EMA) at 1.3645, it jumped from that area and formed a bullish engulfing candle chart pattern. Oscillators remain in bullish territory, except for the Rate of Change (RoC), which shows that selling pressure is waning, about to cross above neutral.
In case of a bullish continuation, the USD/CAD first resistance would be 1.3814, today’s high. A breach of the latter will expose the YTD high at 1.3862 before the pair edges to 1.3900. As an alternate scenario, the USD/CAD cracking the 20-day EMA at 1.3645 would pave the way toward the 50-day EMA At 1.3550.
风险提示：本文所述仅代表作者个人观点，不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证，对于基于该内容所采取的任何行为，不承担任何责任，除非另有书面明确说明。
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