The US Dollar To Canadian Dollar Pair (USD/CAD) Has A Potential For Further Rally

Weaker Crude Oil Prices Undermine The Loonie Pair (USD/CAD)

Technical analysis:

Exchange Rates 25.10.2022 analysis

USD/CAD has been trading sideways at the price of 1.3710 but I see potential for further bullish continuation.

Trading recommendation:

Due to the strong upside cycle in the background I see potential for the further upside continuation.

Watch for the potential buying opportunities with the upside objective at 1.3855, 1.3980 and 1.4200.

Stochastic oscillator is showing fresh upside cross, which is sign that there is potential for further rally.

Key support is set at the price of 1.3600

 

Relevance up to 09:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Read more: https://www.instaforex.eu/forex_analysis/298169

Weaker Crude Oil Prices Undermine The Loonie Pair (USD/CAD)

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