USDCAD More upside to come.

USDCAD is on an uptrend since forming a support at 1.29500.

Levels to watch:

- The rebound on the support has formed a channel up similar to another two occasions.
- The price just hit the MA50 and is consolidating.
- The long term pattern is a bearish megaphone.
- The bearish megaphone's lower highs are made when the price crosses the MA200. This is a top confirmation.

Projection:

- With the MACD still on a bullish trend, we expect the price to continue rising inside the channel up until it crosses the MA200 and makes a lower high on the megaphone.



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