USD/CAD

USD/CAD was slowly moving to the downside when it reached a strong level of support at 1.2950 and bounced off of it after forming several inverted hammer candlesticks on the four hour filter chart. At the moment the situation is quite uncertain, as the pair started climbing again but the resistance at 1.3070 proved to be another obstacle. It is currently testing that resistance. Should it manage to break above that level, it will likely test the next resistance at 1.3210. We can safely conclude that the bullish trend will continues only after the pair climbs above that level.