The US dollar remains volatile against the Canadian dollar currency as the pair continues to range between the 1.3300 to 1.3400 level. The USDCAD pair could form a bearish double-top pattern this week if bulls are unable to break above the 1.2450 resistance level. The 1.2300 level is an important pivot point to watch this week for a potential reversal or continuation of the bullish trend.
The USDCAD pair is only bullish while trading above the 1.2300 level, key resistance is found at the 1.2380 and the 1.2440 levels.
If the USDCAD pair trades below the 1.2300 level, sellers may test the 1.2250 and 1.2160 levels.
