Potential upside for USDCAD

USDCAD:

USDCAD

On Friday’s close, USDCAD held above previous structure, 1.2894 – 1.2889. However, as there was quite a strong bearish momentum coming down towards this previous structure, it would be good to see more bullish strength, before determining if the pair could head up.

If the pair would continue to sell down, the next level to watch would be the trendline structure.

Legend:

Monthly Levels: Represented in Red

Weekly Levels: Represented in Blue

Daily Levels: Represented in Black

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