USDCAD Bullish Engulfing 4-Hour Chart

Resistance: 0.9933 strong/0.9948 moderate/0.9976 minor Support: 0.9905 moderate/0.9890 minor/0.9862 minor Market bias for USDCAD is bearish with prices under a strong resistance at 0.9933. 4-Hour candlesticks however have a mid level reversal pattern, Bullish Engulfing. Look for a close above the Pivot Point, 0.9933, for a run to 0.9948 with stop losses just below the patterns low. Break of 0.9948 could lead to a market rally for 0.9976.

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