Technical analysis

USDCAD Wave Analysis 25 June 2024

– USDCAD reversed from key support level 1.3620

– Likely to rise to resistance level 1.3700

USDCAD currency pair today reversed up with the long-legged Doji from the key support level 1.3620 (which has been steadily reversing the price from the start of May, as you can see below).

The support level 1.3620 was strengthened by the intersecting lower daily Bollinger Band.

Given the strength of the support level 1.3620 and the clear daily uptrend, USDCAD currency pair can be expected to rise further to the next resistance level 1.3700.

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