Technical analysis of USD/CAD 01/30/2024

The USD/CAD currency pair at (1D) is developing an upward correction.

The pair has hit resistance at 1.3540 (50% Fibo) and is currently consolidating in the area of 1.3400.

The technical picture suggests the possible development of an upward correction with a target in the area of 1.3620 (61.8% Fibo). Breaking through this level will mean the correction will transition into uptrend with a target in the area of 1.3740.

The nearest support is the area at level 1.3350.


Created by Joshua Hayn

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