USDCAD: Thoughts and Analysis

5월 8일

Today's focus: USDCAD

Pattern – consolidation pattern break (continuation)
Support – 1.3650
Resistance – 1.3780, 1.3830

Hi, traders. Thanks for tuning in for today's update. Today, we are looking at USDCAD on its daily chart.

Today, we are wondering if the USDCAD is setting off on a new move higher after holding support. Price continues to test at the descending triangle pattern, which could be seen as a consolidation in the uptrend and as a continuation pattern.

We have listed a few things to watch out for and the next levels of resistance. What do you think? Is this a new leg higher?

Good trading.