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USD/CAD’s upward gain seem to has lots of strength after pair managed to close higher last week with new temporary high, this higher trading above 1.0400 level clearly states that accumulated power is huge and there is no signal for trend reversal - price is heading towards FE 1.382 level. Our vision for next week bias remains on bullish, after price managed to hold ending higher and now it’s heading for a test of FE 1.382%. We consider that a medium term low is possibly formed at 0.9406 on bullish convergence condition in weekly MACD. Further rise is in favor for a test on key resistance level at 1.0851. However on the downside, break below of 0.9725 will now limits this bullish view and will turn focus back to 0.9406 support level.
