Last week, USD/CAD bulls took control and rallied the pair to a higher trading zone. Will bulls continue leading the price action or will bears come back?
USD/CAD Technical Analysis
USD/CAD chart reveals a reversal and continuation patterns
Positive outlook while above 1.3511
Multi-Week High
On September 25, USD/CAD hit an over seven-week high at 1.3416 and retreated after, as some bulls seemed to cut back. Ultimately, a weekly candlestick closed in the green for the third week in a row with a 1.4 % gain. Alongside that, the Relative Strength Index (RSI) rose from 45 to 62 highlighting the start of bullish momentum.
USD/CAD Daily Price Chart (June 1 – September 30, 2020)
