USDCAD: August's Progress and September's Potential

1 sept. 2023

USDCAD
Throughout the month of August, the USDCAD pairing exhibited a consistent trend of progression. We observed the emergence of new, elevated price ranges that endured until the latter part of the month. However, as late August approached, there was a notable decline, bringing the pair to the 1.35529 range, followed by a further dip to the 1.35043 range.

Now, as we step into the early days of September, we find the price has surged beyond the two aforementioned ranges, unmistakably embracing a bullish sentiment. Nonetheless, it's imperative to exercise caution, as there remains a possibility that the price may retrace back into the territory seen in the previous month of August. This dynamic market continues to offer both intrigue and opportunity for astute investors.