Correction of USDCAD has brought its price to the key support area, where three significant levels converge, namely: horizontal support area within 1.3100, 50% abolition of the last growth impulse and a trend line running from April this year.
In addition, yesterday’s session closed above the maximum of the previous day and covered it with its entire range. This led to the formation of an outside bar, which negates the bearish pin bar. Bearing in mind the above, it seems that the rate may continue to the north, where the nearest goals are this year’s maximum at 1.3385. After defeating that level, the next significant levels of resistance will be found at 1.3500 and 1.3790.
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