USD/CAD: There is some room for a rebound in the near term
Diupdate
Hello dear friends!
Currently, USDCAD is trading around the price level of 1.363, showing consolidation.
From the technical analysis chart, it can be observed that the price range is gradually narrowing and is close to the area of EMA 34. There is a high possibility of an upward price movement if USDCAD breaks out of the current trend and continues to increase towards the target of 1.368 and even higher at 1.378.
What about you? Do you agree with this viewpoint?
Currently, USDCAD is trading around the price level of 1.363, showing consolidation.
From the technical analysis chart, it can be observed that the price range is gradually narrowing and is close to the area of EMA 34. There is a high possibility of an upward price movement if USDCAD breaks out of the current trend and continues to increase towards the target of 1.368 and even higher at 1.378.
What about you? Do you agree with this viewpoint?
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