Technical analysis of USD/CAD 08/16/2024

The USD/CAD currency pair is correcting at (1D) as part of an upward trend.

The pair found resistance at 1.3946, corrected to 1.3690 (MA100) and is currently trading at 1.3730.

The technical picture for the near future suggests the development of a correction to 1.3650 (38.2% Fibo), (MA200), (trend line).

In the medium term, an upward trend is expected to develop with the nearest target in the area of 1.3950.

Created by Joshua Hayn

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