The USD/CAD remained in an ascending channel on Thursday. The price sharply dropped in the mid-Asian session. The spot bounced off the upper limit of the channel and fell to its lower one. Bears lost steam after that allowing buyers to reverse some losses. The pair bounced from 1.3540 at the European open and grew to 1.3600 by noon. Technical indicators were mixed. MACD and RSI supported a correction while the EMAs were bullish. The resistance lies at 1.3600, the support comes in at 1.3540.
Trading recommendations: We cannot rule out the chance that the pair would try to get to the level at 1.3600. The next buyers’ target is 1.3660.