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28.11.2022 10:26 PM
USD/CAD: upside continuation

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USD/CAD 1.3495 Upside Obstacle!

The USD/CAD pair registered a strong upside movement after retesting the 1.3325 downside obstacle (the upside obstacle turned into a downside obstacle). Now, is almost to reach the 1.3495 former high which represents an upside obstacle.

In the short term, it's trapped between 1.3325 and 1.3495 levels. After escaping from the down-channel pattern, the rate was expected to grow.

USD/CAD Trading Conclusion!

Jumping and stabilizing above 1.3495 could activate further growth. This scenario brings a new chance to buy the USD/CAD pair.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
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