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Salzworth

Bullish outlook on USDCAD: 29th December 2022

Long
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
Salzworth  
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns USD USDCAD CAD dollar loonie
0
3
trendanalysis harmonicpatterns chartpattern usd usdcad cad dollar loonie
On the M30 time frame, a throwback to the support zone at 1.35750, in line with the 23.6% Fibonacci retracement level could see a bounce to the resistance target at 1.36350. Failure to hold above the support zone at 1.35750 could see further downside to the next support zone at 1.35380. Prices are approaching the lower bound of the Bollinger Bands while Stochastic RSI is indicating oversold conditions, supporting our bullish bias.
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