USD/CAD Breaks Resistance: Eyeing Targets at 1.3615 and 1.3700
USD/CAD has broken through the resistance level at 1.3530, signaling a potential upward move. The first target is at 1.3615, where we might see some initial resistance. If the momentum continues, the pair could reach the second target at 1.3700, marking a significant bullish trend. Traders should watch these levels closely for confirmation of the breakout and potential further gains.
Note
The USD/CAD is following the direction we anticipated. After dropping to retest the downtrend channel's resistance line, it has started to rise. We expect this upward movement to continue and believe that the price will reach our target of 1.3615.Trade active
USDCAD successfully hit the first take-profit level at 1.3615, showing positive momentum. Now, all eyes are on the next target at 1.3705. If the pair continues this upward trend, the second target could be reached soon, signaling further strength in the market. Traders should monitor key resistance levels and any potential market shifts that might impact the next move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.