Short-term Outlook
USDCAD overall rising sentiment is likely to continue throughout September, However in short-term there might be a pull-back where it could create an opportunity to buy dip. Supports are seen around two key levels between 1.3125 and 1.32. Initial target would be around 1.339 and then 1.3645.
As long price trades above 1.3125, the bullish sentiment is still there.
Expected price range for Sep 19 to Sep 23
65% probability : 1.3145 - 1.3385
95% probability: 1.2985 - 1.3545
Big Picture
Since Jun 2021 USDCAD rate has risen from the bottom of 1.201 to 1.3307 which implies a slight bullish trend . The reversal pattern which has formed over the last two year suggests a continuation upward move toward major resistances around 1.339, 1.3645 and 1.43.
As long as USDCAD holds above 1.302 and 1.3125, overall rising trend would continue throughout the balance of 2022.
USDCAD overall rising sentiment is likely to continue throughout September, However in short-term there might be a pull-back where it could create an opportunity to buy dip. Supports are seen around two key levels between 1.3125 and 1.32. Initial target would be around 1.339 and then 1.3645.
As long price trades above 1.3125, the bullish sentiment is still there.
Expected price range for Sep 19 to Sep 23
65% probability : 1.3145 - 1.3385
95% probability: 1.2985 - 1.3545
Big Picture
Since Jun 2021 USDCAD rate has risen from the bottom of 1.201 to 1.3307 which implies a slight bullish trend . The reversal pattern which has formed over the last two year suggests a continuation upward move toward major resistances around 1.339, 1.3645 and 1.43.
As long as USDCAD holds above 1.302 and 1.3125, overall rising trend would continue throughout the balance of 2022.
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.