The USD/CAD Pair Has Good Sign For The Further Upside Movement

Decline of Canadian retails sales plays in favour of holding the rates by Bank of Canada

Technical analysis:

Exchange Rates 24.02.2023 analysis

USD/CAD has been trading upside and there market respected the rising trend-line, which is good sign for the further upside movement.

Due to the strong upside movement and the upside momentum, I see potential for the higher price towards the upside structural objectives.

Upside objectives are set at 1.3610 and 1.3660

Stochastic oscillator is showing fresh bull cross, which is another good sign for the further upside movement.

Key support is set at 1.3525

 

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Decline of Canadian retails sales plays in favour of holding the rates by Bank of Canada

Peter Jacimovic

Analytical expert of InstaForex © 2007-2022

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