Technical analysis: USD/CAD remains bullish, with downside attempts limited above 1.3700
The US Dollar maintains the bullish bias intact, with the Loonie’s recovery attempt capped well above previous highs in the 1.3700 area so far.
The pair broke the top of last month’s trading channel last week and is now testing the resistance area at 1.3780. 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 there at 1.3545
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