USDCAD → Attempt to break through resistance to continue growth

USDCAD is attempting to break through consolidation resistance within an uptrend. Growth in the dollar index may support the current trend.



The dollar is rising. The currency pair is consolidating ahead of resistance at 1.40600, against which it is attempting to break through in order to continue growing.
The growth may continue if the current fundamental background remains unchanged. Consolidation may support further growth. A breakout and closing above 1.4060 will confirm the bullish sentiment and, in turn, may trigger a distribution to 1.411 - 1.415.

Resistance levels: 1.4060
Support levels: 1.4028, 1.4005

The trend is bullish, with virtually no pullback after the growth, only consolidation, which is technically a positive sign. A breakout of the specified consolidation resistance could trigger distribution to areas of interest.

Best regards, R. Linda!