USDCAD: Waiting For Confirmation
USDCAD is currently in an upward trend.
After reaching a new high and closing higher on a 4-hour chart, the pair began to trade within a horizontal range.
I am anticipating a bullish breakout above the range's resistance.
A close above 1.3957 on a 4-hour candle will show the buyers' strength.
If this happens, it will confirm a continuation of the bullish trend.
The next resistance level to watch for is at 1.4008.
After reaching a new high and closing higher on a 4-hour chart, the pair began to trade within a horizontal range.
I am anticipating a bullish breakout above the range's resistance.
A close above 1.3957 on a 4-hour candle will show the buyers' strength.
If this happens, it will confirm a continuation of the bullish trend.
The next resistance level to watch for is at 1.4008.
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