Technical analysis: USD/CAD keeps marching higher, with 1.3770 and 1.3845 in the bulls’ focus
The US Dollar is under a strong bullish momentum after confirming above the last two months’ channel top with no sight of a trend shift.
The reverse trendline has provided support, triggering another bull run to the 1.3770 resistance area, which has been tested on Friday. The USD/CAD pair is at overbought levels but not at extremes, with the measured target of the broken channel at the mid-November high of 1.3845. On the downside, supports are 1.3680-1.3660 and below here, at 1.3545
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