After an uncorrected 350 pips rise, a pullback is necessary for USDCAD to swing bullish and surpass recent highs of 1.38060. I anticipate that the currency pair will react in the 1.36654 - 1.36844 area, which I find to be of high interest. Within 12 days, USDCAD has increased by 2.63%, but I am expecting a 1% pullback before it moves higher.
Several confluences, including the structure, decline trend line, incline trend line, and reversal point, suggest that USDCAD will hit the area of interest within the next two trading days. Furthermore, I anticipate a bullish -0.27 target Fib.
Several confluences, including the structure, decline trend line, incline trend line, and reversal point, suggest that USDCAD will hit the area of interest within the next two trading days. Furthermore, I anticipate a bullish -0.27 target Fib.