USD/CAD Analysis (August 17)

The pair continues to consolidate after last week rally and it is now trading above the 38% fibonnacci retracement level.
We continue to encourage a bullish prospect over the near term and we will wait for a long opportunity. We need to see a break above 0,9880 (last high) to allow a bullish resumption.
However, a break below 0,9790 would expose next key support at 0,97 corresponding to the 50% retracement.