Key Points
However, on the daily chart, the trend is still bullish as supported by the 28EMA being above the 49EMA
Also, on the daily chart, upside momentum maybe building due to the moves above the longer term trend line connecting both troughs of Sept 2017 and Feb 2018.
On the flip side, the daily chart also shows, a flag formation pattern, as seen by the shorter term declining trend line connecting the peaks set in May 2017, and March 2018.
On the daily, $USDCAD resistance levels are seen as follows : $1.2815 & $1.2935, while support levels are seen at : $1.2727 & $1.2625 followed by a deeper level at $1.2463.
However, on the daily chart, the trend is still bullish as supported by the 28EMA being above the 49EMA
Also, on the daily chart, upside momentum maybe building due to the moves above the longer term trend line connecting both troughs of Sept 2017 and Feb 2018.
On the flip side, the daily chart also shows, a flag formation pattern, as seen by the shorter term declining trend line connecting the peaks set in May 2017, and March 2018.
On the daily, $USDCAD resistance levels are seen as follows : $1.2815 & $1.2935, while support levels are seen at : $1.2727 & $1.2625 followed by a deeper level at $1.2463.