USDCAD currency pair continues to rise after the earlier upward reversal from the support area located between the support level 1.28600 (which has been reversing this pair from the end of last month), lower daily Bollinger Band and the 50% Fibonacci correction of the sharp upward impulse wave (i) from the start of June. Given the strongly bearish Canadian dollar sentiment that can be seen across the FX markets today (on strong oil losses), USDCAD currency pair can then be expected to rise further toward the next resistance level 1.30000.
