The USDCAD has been stepping higher over the last few weeks, and in the process has been using technical support levels to push to the upside. At 1st it was the 100/200 bar moving averages on the 4-hour chart. In trading this week, the price extends above the early October high price near 1.37848. In trading today, the corrective move to the downside stalled right near that level before pushing 2 new session highs.
So what’s next?
In this video, I outline the next targets for the pair and also talk about the close risk
This article was written by Greg Michalowski at www.forexlive.com. Source