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USD/CAD trading sideways at 1.0378/79

FXstreet.com (Barcelona) - The USD/CAD jumped overnight, building off yesterday’s bullish performance and continuing its path higher, however the European session has consisted of a sideways trading with pair settling at 1.0378/79 at the time of writing.

Presently, the pair is operating at +0.12% above its opening Thursday. Mataf.net analysts point to the next level of resistive correction for the USD/CAD at 1.0432, then 1.0478, and finally 1.0569. On the decline, supportive structures will initiate at 1.0295, ahead of 1.0204, and finally 1.0158.

According to the ICN.com technical analyst team, “The USD/CAD managed to breach the upside key resistance level and the previous top at 1.0339, forcing us to think that there might be further bullishness to test 1.0430 levels. Breaching 1.0430 might push the pair higher towards 1.0540 levels.”

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