USD/CAD Approaching Crucial Resistance at 1.3650

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Dollar Américain / Dollar Canadien (FX:USDCAD)

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FX:USDCAD Dollar Américain / Dollar Canadien

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In the Asian session, the USD/CAD pair is making headway towards the significant resistance level of 1.3650. The Canadian dollar is gaining momentum after a period of reduced volatility, while the US Dollar Index (DXY) is on the brink of completing its nominal correction. The current price of USD/CAD has now reached a confluence zone, where the Fibonacci Area of reversal and the Dynamic trendline that have previously acted as resistance intersect. Our stance on USD/CAD remains bearish, and we anticipate a reversal from this area.

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USD/CAD Approaching Crucial Resistance at 1.3650

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