empty
 
 
13.12.2022 10:41 PM
USD/CAD: further growth still possible

This image is no longer relevant

USD/CAD Retesting Buyers!

The USD/CAD pair dropped a little in the short term after reaching the 1.3692 level. Now, it is trading at 1.3554 at the time of writing. The uptrend line and the 1.3507 represent downside obstacles. As long as the pair stays above these levels, it could give birth to a new upside movement.

The 1.3692 former high stands as an upside obstacle. Only dropping and stabilizing below the uptrend line could invalidate an upside continuation.

USD/CAD Forecast!

The rate could increase again after testing and retesting the uptrend line at 1.3507. Still, only a new higher high, jumping and stabilizing above 1.3692 could really confirm an upside continuation.

Dropping below the downside obstacles may announce a strong downside movement.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback