USDCAD: Rising Opportunity

USDCAD, Daily

In the Daily timeframe, USDCAD is in a long-term bullish trend, and the price has fallen to the trend line. Despite a minor correction, the price bounced off the trend line and is testing an important resistance area. Moving averages indicate the possibility of further growth.

• USDCAD may be considered for a buy on a rise above the resistance area at 1.3700 with a target of 1.3770;

• If the bulls push the price above 1.3770, the price may reach 1.3830;