USDCAD is resuming Bullish movement targeting Recent high. After a consolidating movement from few days, USDCAD is moving bullish. As the larger time frame weekly and monthly the pair is in strong bullish bias so we can expect the bullish movement will be continued to the next target.

On the daily view, the pair has broken the resistance area near 1.33 and retest several times that is marked by the blue circle on the below daily chart. Now it is continuing to the bullish again.

USD-CAD Daily Chart Analysis

On the smaller time frame, 4 hours the pair was in consolidating movement from few days marked by the orange colored rectangle. On Tuesday the pair breaks this consolidated area and going further bullish. The nearer resistance at 1.3560 that can be the next target of this pair and then 1.3660 which is the recent top of this pair.

The week is important on the fundamental view for the currency USD because the weak ahead with FOMC and NFP also there that we need to look out to see further strengthening of the USD.