The USDCAD currency pair recently found support at the EMA50 (Exponential Moving Average 50) and experienced a substantial upward surge, successfully breaching the 1.3680 level and maintaining a position above it. This marks a resurgence in the primary bullish trajectory, with the aim of achieving gains commencing at 1.3785 and extending further to 1.3890 following the prior breakthrough.
The forthcoming trading sessions are expected to see further upward movement, characterized by adherence to the established bullish channel illustrated on the chart. It is crucial to emphasize that remaining above the 1.3680 level is of paramount importance in order to realize the envisaged targets.
For today’s trading, the projected range spans from the support level at 1.3680 to the resistance at 1.3810.
The prevailing trend for the day leans toward a bullish outlook, with the USDCAD exhibiting signs of recovery and seeking to extend gains in the sessions to come.