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- The USD/CAD continued yesterday's rise
The USD/CAD continued yesterday's rise
Yesterday, the USD/CAD traded higher and closed the day in the positive territory near 1.4340. Today, it also rose slightly, rising to 1.4360. On the hourly chart, USD/CAD is still trading above the moving average MA (200) H1 (1.4230). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points to buy to form a correction.
- Resistance levels are at 1.4365, 1.4440, 1.4500
- Support levels are at 1.4300, 1.4280, 1.4245
Probably, the main scenario is continued growth to 1.4365 (Feb 26 high).
An alternative scenario is consolidation below the MA 200 H1 line, followed by a decline to 1.4155 (Feb 17 low).
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