The US dollar remains volatile againts the Canadian dollar as the pair continues to create a range between 1.3300 to 1.3400 levels. The USDCAD pair could form a double top pattern this weekend if the bulls are unable to break above the 1.2450 resistance level. The 1.2300 level is and important pivot point to watch this week for a potential reversal or continuation of the bullish trend.
The USDCAD pair is only bullish when trading above the 1.2300 level, key resistance lies at the 1.2380 and 1.2440 levels.
If the USDCAD pair trades below the 1.2300 level, sellers may test the 1.2250 and 1.2160 levels.
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