The pair is confirming a bullish momentum while moving up in a clear short term rising channel. We still expect a test of 0,97 before maybe a continuation towards 0,98.
As we explain from several days now, the USD/CAD might be in the process of carving out a double bottom formation on the weekly chart which would open the door to a major reversal with year.
We will see how things develop but the current setup is being constructive and interesting for the coming weeks.
Provided by atf-forex-trading.com