USDCAD: Not clear Direction Until break 1.3440 Resistance
Last week The pair broke 1.3260 resistance and manage to hit 2nd resistance 1.3420, Currently Pair back at the support level 1.3250 holding Bullish momentum.USD/CAD continues to pressure the immediate upside obstacles signaling strong buyers. A valid breakout could bring a long opportunity. The price is bullish and it tries to capture more bullish energy before resuming its upside movement.
The USD could be lifter by good US figures and MIXED NFP, Currently USDCAD sideways between 1.3030 to 1.3380 levels, USD/CAD has consolidated, accumulated, above the 50% Fibonacci retracement level. A bullish fly above the 61.8% (1.3440) level confirms a broader upside movement. USD/CAD Trading Tips Buy from above the 61.8% (1.3440) level with potential upside targets at the R2 (1.3571) and R3 (1.3725) levels.
If price breaks out support 1.3210 we could see downside momentum towards support level 1.3040.
🛑SUPPORT/RESISTANCE
✅S1= 1.3210
✅S2=1.3025
✴️R1=1.3313
✴️R2=1.3425
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The USD could be lifter by good US figures and MIXED NFP, Currently USDCAD sideways between 1.3030 to 1.3380 levels, USD/CAD has consolidated, accumulated, above the 50% Fibonacci retracement level. A bullish fly above the 61.8% (1.3440) level confirms a broader upside movement. USD/CAD Trading Tips Buy from above the 61.8% (1.3440) level with potential upside targets at the R2 (1.3571) and R3 (1.3725) levels.
If price breaks out support 1.3210 we could see downside momentum towards support level 1.3040.
🛑SUPPORT/RESISTANCE
✅S1= 1.3210
✅S2=1.3025
✴️R1=1.3313
✴️R2=1.3425
Please like, share, comment, and follow me to get daily base analysis.
Thank you for your support, I appreciate it