© Dukascopy Bank SA
We think that due to the US Dollar's strength the pair is not likely to fall below the 1.13 mark; therefore, we see much more upside for the pair. This time also the SWFX market participants agree with our outlook as 72% of them have opened long positions on the pair. Moreover, the weekly technical studies are strongly bullish and that adds to the overall bullishness. Most likely USD/CAD will approach or even break the 1.14 level this week.
© Dukascopy Bank SA