USD/CAD Analysis (July 31)

The pair is carving out a material base on top of 0,94 by validating a double bottom on the 4-hour chart (break above 0,9530).
The advance has been well capped by the daily 20 moving average on friday but we think that the market will ultimately continue its move to the upside with a potential target at the former 0,97 support. Only a break back below 0,9450 would concern over the short term.