USD/CAD Daily Analysis: Forecast and Technical Outlook

Tuesday, 9 July 2024, 06:26
The USD/CAD intraday bias remains neutral with an unchanged outlook. A corrective pattern is anticipated from the recent market movement, potentially extending further. A break below a key level may trigger a bearish scenario with a strong support level identified for a potential rebound. Conversely, overcoming a minor resistance level could signal a shift towards an upward bias targeting a resistance level.
Actionforex
USD/CAD Daily Analysis: Forecast and Technical Outlook

USD/CAD Daily Analysis

The intraday bias in USD/CAD remains neutral with an unchanged outlook. A corrective pattern from a recent high may extend further.

Key Levels

  • Support: 1.3589, 1.3534
  • Resistance: 1.3686, 1.3790

A break of the support at 1.3589 could lead to further downside, while a rebound is expected at 1.3534. On the upside, breaching the minor resistance at 1.3686 may indicate a bullish reversal towards the resistance at 1.3790.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe