USD/CAD is trading sideways in the short term after failing to resume its drop signaling that the downside movement could be over. Now is pressuring the immediate downtrend line, the minor downtrend line.
Passing above this dynamic resistance could signal potential growth. A larger upwards movement, an upside reversal could be indicated by a breakout and stabilization above 1.2173 high, level.
Trading Conclusion!
Jumping above the 1.2173 level could signal a larger growth and could bring us a good buying opportunity with a potential target at 1.2300.
The material has been provided by InstaForex Company - www.instaforex.com