USDCAD is racing higher as the sellers fail, and the buyers continue to trend higher ...Middle East

Hourly Chart Analysis:Sellers had an opportunity yesterday after testing a topside trendline connecting highs from December 9. Despite breaking below Friday’s double top at 1.4244, downside momentum stalled, and during today’s Asian session, the price rebounded above that level, signaling buyers to resume control.

Key Takeaway:As long as the price holds above 1.4285 and 1.4270, sellers remain sidelined, and buyers are firmly in control, maintaining the bullish momentum.

This article was written by Greg Michalowski at www.forexlive.com.

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