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29.11.2022 09:55 PM
USD/CAD increased as expected

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USD/CAD Temporary Retreat?

The USD/CAD pair dropped a little in the last hours after reaching 1.3641. Now, this level represents an upside obstacle. After its strong growth, it has dropped a little which is normal. The 1.3568 historical level stands as a potential downside obstacle (the upside obstacle turned into a downside obstacle).

1.3495 represents a downside obstacle as well. You knew from my previous analysis that the USD/CAD pair could register a strong upside movement if it jumps above 1.3495.

USD/CAD Trading Conclusion!

A new higher high, jumping above 1.3641 signals further growth towards the 1.3799 higher high.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
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