USD/CAD Analysis (August 12)

The pair remains well bid after a confirmation of the bullish resumption which resulted in a possible long term reversal (double bottom formation).
Parity has offered a great resistance this week and we might see some consolidation going forward but we still encourage a bullish prospect on the pair and we expect a continuation to the upside over the coming sessions and weeks. Only a break below 0,9770 (weekly low) would alleviate the immediate upside pressure with a possible setback towards 0,96 (daily 20 moving average).