Currently, USD/CAD is trading at 1.3388. The pair is consolidating in the ascending triangle pattern. Previously, the pair was trading in a down trend. There is a great possibility that the pair will rebound back from its resistance level . But if the price breaks the resistance level at 1.3452, then It may start a new up trend and its first target price will be at 1.3544 and second target price will be at 1.3600.
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Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.