Upside momentum appears to be putting the USD CAD in a position to change the weekly chart to up.
Upside momentum appears to be putting the USD CAD in a position to change the weekly chart to up. Although a trade through 1.1124 will turn the main trend up, traders still have to be aware of 50% resistance at 1.1156.
Another sign of higher markets is the penetration of a downtrending Gann angle at 1.0822. Holding above this Gann Angle and regaining 1.1156 could trigger an even further rally to 1.1290 over the near-term.
