USDCAD currency pair recently reversed up from the support level 1.20300, intersecting with the lower daily Bollinger Band. The upward reversal form the support level 1.20300 created the daily Japanese candlesticks reversal pattern Bullish Engulfing – which follows the earlier daily Hammer. Given the strongly bullish dollar sentiment seen across the FX markets today – USDCAD currency pair can be expected to rise further toward the next resistance level 1.21500 (top of the previous minor correction 2 form May).
