USD/CAD Heading North – Is It a Good Buy?

The USD/CAD pair is trading bullishly, with stochastics favoring a test of key resistance at 1.3680. However, traders should be careful in the short term, as the bearish trend scenario requires the price to stay below 1.3680, at which point it will move on to target 1.3565 and then 1.3500.

If the USD/CAD price can break through 1.3680, it will likely continue its upward trend, first testing the 1.3800 regions. Today’s trade could go any way, but 1.3580 support and 1.3730 resistance are the most likely levels to see action in.

Today’s predicted trend: Bullish