USDCAD Analysis: Breaches the junior pattern
|USDCAD
The US Dollar introduced no significant changes to its overall price range against the Canadian Dollar on Monday, as the USD/CAD currency pair remained trading with low volatility.
Meanwhile, a breakout had occurred through the lower boundary of a junior ascending pattern as can be observed on the chart and could be set for a short-term decline during the following session.
According to technical indicators, some upside potential still exists. In the meantime, the currency exchange rate could make a brief retracement down targeting the 200-hour simple moving average at 1.3167.
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