Pattern – Continuation Support – 1.3715 Resistance – 1.3780
Hi, traders. Thanks for tuning in for today's update. Today, we are looking at USDCAD on its daily chart.
Looking back at price, we have evidence that a continuation is trying to form. After the first break higher, which broke out of the move lower, we saw consolidation, which has now also broken higher.
Will we see today's bar post a strong close, showing buyers are set to push through the rejection that we have seen in the last several sessions?
We want to see a firm close and a hold above support; otherwise, sellers could be setting up for a new test lower.
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