The price line on USDCAD price chart has been moving within a sideway range since mid-November 2022. While bouncing within this sideway range, a static resistance and a static were formed on the chart. The mentioned support zone is reflected as a green zone below the price chart; and as it is shown on the chart, the price line is making another retest of this area. Different indicators are issuing bullish signals and a buyers should keep a sharp eye on the price chart; after which they could enter long positions, heading to the resistance levels mentioned below.
• There is a resistance level at 1.35150 followed by resistance at 1.36100 and 1.36660.
• There is a support level at 1.33420. Below, there is 1.33350 and 1.33150.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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