DAILY FOREX UPDATE: USD/CAD

June 16, 2018

By: Dima Chernovolov

USD/CAD continues to rise inside the 30-minute Up Channel chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Up Channel at the 6-bar level – which is the result of the medium Initial Trend (5 bars), above-average Uniformity (6 bars) and higher Clarity (7 bars). USD/CAD is expected to rise further inside this Up Channel – in line with the earlier breakout of the major resistance level shown below.

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