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USD/CAD In Buyers Territory!

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USD/CAD has dropped a little in the short term, but the decline was only a temporary one. I've told you in a previous analysis that USD/CAD could increase if it stays above the 1.2470 level.

It's located at 1.2517 level and it could resume its growth after a temporary decline. It could slip lower after today's rally trying to attract more buyers. A minor decline could bring a new upside momentum.

Trading Conclusion!

Passing above 1.2532 today's high could indicate more gains and a potential growth towards 1.2600 psychological level. It could increase as long as it stays above 1.2470.

The bullish scenario could be invalidated by a drop below 1.2443 low.

The material has been provided by InstaForex Company - www.instaforex.com