The four-hour chart of the USD/CAD currency pair indicates an upward trend. Therefore, it is expected that the price will bounce off the trendline and the intermediate support level and return towards the first resistance level.
Key levels:
- The intermediate support level is located at a rate of 1.3468. The first support level is at 1.3439, which could potentially lead to a bullish market reversal. The second support level is formed at 1.3396, which is considered a strong technical level.
- The intermediate resistance level is at a rate of 1.3531, which could limit upward movements. The rate of 1.3570 represents the first resistance level in the market.
Key levels:
- The intermediate support level is located at a rate of 1.3468. The first support level is at 1.3439, which could potentially lead to a bullish market reversal. The second support level is formed at 1.3396, which is considered a strong technical level.
- The intermediate resistance level is at a rate of 1.3531, which could limit upward movements. The rate of 1.3570 represents the first resistance level in the market.
Trade closed: target reached