Technical analysis of USD/CAD 08/05/2022

The USD/CAD currency pair on the (1D) chart is trading in an uptrend.

The price found support at the level of 1.2770 (MA100), after which it resumed growth and is currently consolidating around 1.2970.

The technical picture suggests continued growth above the high of 1.3220.

A signal to cancel the development of the uptrend will be a decrease in quotes below 1.2500, which will indicate an exit beyond the line of the rising channel.


Created by Joshua Hayn

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