USD/CAD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The channel up pattern formed by USD/CAD started on November 19. At the moment of writing, the currency couple traded between its daily resistance at 1.0554 and four-hour resistance that lies not far away from a three-month high at 1.0568. According to the SWFX data, market participants expect the pair to move higher in the hours to come; 56.10% of traders bet on appreciation of the pair. If the these expectations come true, USD/CAD will try to breach the four-hour resistance that is likely to bring a three-month high back to the fore.
© Dukascopy Bank SA
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