Technical analysis:
USD/CAD has been trading upside as I expected and the price has reached the first upside objective at the price of 1.3780. Anyway, I see potential for further upside movement due to the strong upside momentum.
Trading recommendation:
Due to the strong upside pressure in the background and rejection of the rising trend-line, I see potential for further rally.
Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.3850 and 1.3900.
MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.
Key support is set at the price of 1.3625
Relevance up to 08:00 2022-09-29 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.