Given the strength of the support level 1.3500 and the bullish US dollar sentiment seen across the FX markets today, USDCAD currency pair can be expected to rise to the next resistance level 1.3700 (which stopped the previous minor correction ii).
- USDCAD reversed from support area
- Likely to rise to resistance level 1.3700
USDCAD currency pair recently reversed from the support area located between the pivotal support level 1.3500 (which stopped the earlier sharp downward impulse wave i at the end of January, as can be seen from the daily USDCAD below), lower daily Bollinger Band and the support trendline of the daily down channel from November. The upward reversal from this support area stopped the previous minor impulse wave 3, which belongs to the downward impulse wave (C) from the end of 2025.
Given the strength of the support level 1.3500 and the bullish US dollar sentiment seen across the FX markets today, USDCAD currency pair can be expected to rise to the next resistance level 1.3700 (which stopped the previous minor correction ii).
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