The U.S. dollar and the Canadian dollar are lately oscillating within an upside formation between the range of 1.3076 and 1.3361 respectively.
The bulls are now exerting pressures in their attempts of taking control over the price, and holding the pair close to the 1.3361 level.
The Stochastic oscillator indicates that the pair has greater chances of appreciating to upper levels at the 60 zone.
Alternatively, should the sellers take the lead and force the price below the 1.3255 area, the pair could decline as low as 1.3076.
- There are no any major releases that could have an impact either on the U.S. dollar or the Canadian dollar
· Probable trend (Bullish): 1.3361
· Bullish take profit target: 1.3536
· Stop loss target: 1.3255
· Alternative trend (Bearish): 1.3255
· Bearish take profit target: 1.3076