USDCAD Above the Triangle After Uptick in Canada Unemployment – FX Leaders

The USDCAD pair has moved above the triangle pattern following a rise in Canada’s unemployment rate. The uptick in unemployment in Canada has caused the USDCAD pair to break out of the triangle formation. This movement suggests potential further upside for the pair in the near future. Traders are closely watching the developments in the US and Canadian economies to gauge the direction of the currency pair.