The USD/CAD pair has been trading upwards since Friday, the 18th of March 2016, with the price rising from as low as 1.2923 to as high as 1.3140.
During the early European session, the price rose at the level of 1.3140 to later fall down to 1.3030. In the event that the buyers manage to push the pair higher and the price breaks above 1.3140, profit targets could be set at 1.3184 and 1.3245 in extension.
On the flip side, in the scenario where the sellers force the pair lower, breaking below 1.3005, the price could decelerate down to 1.2974 and 1.2923 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.