USD/CAD Uptrend Is Intact!

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USD/CAD jumped above the immediate downtrend line and it stands at 1.2510 level. The outlook is bullish as long as it stays above the uptrend line. The current breakout may signal potential growth.

Only dropping below the uptrend line may signal that the upside is over. Techncially, its failure to test and retest the uptrend line indicates strong buyers.

Outlook!

USD/CAD looks determined to come back higher after jumping above the downtrend line (resistance). We cannot exclude a minor decline in the short term before resuming its growth. 1.26 and 1.27 are seen as potential upside targets.

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

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