The USDCAD pair continues its upward ascent, edging closer to the awaited target situated at 1.3500. This movement is observed within the confines of a bullish channel, thereby augmenting the prospects of perpetuating the prevailing bullish surge. With this trajectory in place, an anticipatory breach of the mentioned threshold is foreseen, subsequently facilitating the attainment of supplementary positive milestones that are envisioned at 1.3595, followed by 1.3680.
Consequently, the bullish trend endures as a robust and pertinent theme in the foreseeable horizon. This narrative finds support in the stochastic indicator’s trajectory, which exhibits an inclination towards accruing positive momentum within the scope of intraday trading. It is noteworthy, however, that a breach beneath 1.3440 may potentially divert the trajectory toward the 1.3350 vicinity, prior to any subsequent positive endeavors.
Today’s projected range for trading activities is expected to oscillate between the support level of 1.3400 and the resistance threshold of 1.3530.
The prevailing trend for the day maintains a bullish sentiment, mirroring the overarching trajectory indicative of an upward market disposition.