USD/CAD stands at 1.2599 level and it could approach 1.2639 soon. It has decreased a little to retest the broken downtrend line confirming the breakout.
Still, the pressure remains high as long as the rate is located under the 1.2639 level. So, only a jump and stabilization above this upside obstacle could really indicate an upside reversal.
Trading Conclusion!
Passing and stabilizing above 1.2639 is seen as a buying opportunity. The Stop Loss could be placed and hidden below 1.2520 former lower low.
The material has been provided by InstaForex Company - www.instaforex.com