USD/CAD is preparing to resume an uptrend

The pair USD/CAD after a correctional decline on Wednesday and Thursday, which responds to a common two-month channel, returns to strengthening. In addition to the general strengthening of the US dollar, the reason for the growth is the rebound of this currency pair from the lower boundary of the general upward channel at 1.3180-1.3200.

A limiting factor for strengthening the USD/CAD pair is its overbought and level 1.3250-60, from which it is worth considering purchase transactions. A break of the key resistance will open the way to the marks: 1.3300 and 1.3330, confirming the uptrend. Support is located at the levels: 1.3220 and 1.3200.

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Hanzenko Anton

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