The price line on USDCAD price chart has been moving within an ascending triangle since mid-November; since then a static resistance level was formed and confirmed above the price line. This resistance zone is reflected as a light red box. A dynamic support level was also formed below the price line which is indicated as an ascending red line below the price line. Ichimoku Cloud I also backing up the price and RSI is currently on ascending trend. Buyers can expect the price line to break above the static resistance zone; there they can enter long positions heading to the resistance levels mentioned below.

• There is a resistance level at 1.37860 followed by resistance at 1.38100 and 1.39500.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.