The USD/CAD pair recently made an attempt to breach the critical level at 1.3205 but experienced a notable rebound, signaling a potential commencement of a bullish wave on an intraday basis. The initial targets for this upward movement are identified at 1.3280, with further extension towards 1.3350 anticipated upon surpassing the aforementioned level.
Consequently, a bullish bias is expected to persist throughout the day. It is crucial to monitor the 1.3205 level, as a break below this support may impede the anticipated rise, potentially leading the price to resume the primary bearish trend.
The projected trading range for the current session is anticipated to fluctuate between the support level at 1.3200 and the resistance level at 1.3330.
Today’s anticipated trend: Bullish