USDCAD has continued its upward move from 1.3092, reaching as high as 1.3377.
The pair is currently encountering resistance at 1.3386. A break above this level could potentially trigger a further upside move towards 1.3500.
Immediate support can be found at 1.3325. A breakdown below this level may lead to a retracement towards the 1.3250 area.
Traders should closely monitor the price action and any potential breakout or reversal signs for further assessment of the market direction.
In summary, the recent analysis suggests that USDCAD has extended its upward movement and is now approaching a critical resistance level at 1.3386. A break above this level could result in further gains towards 1.3500. Conversely, a breakdown below the immediate support level at 1.3325 may lead to a retracement towards 1.3250. Traders should watch for key price levels and monitor the price’s behavior for potential trading opportunities.
