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USDCAD 25.11.2024
General Trend:
The pair is moving within a strong upward trend on the daily time frame, with a pullback from nearby resistance levels at 1.4101, which has affected the bullish momentum.
Expected Scenario:
If the current correction continues, the price may target the support zones between 1.3962 and 1.3923, where it is likely to resume the upward trend after testing these levels. If the bullish momentum continues, the price could retest the resistance levels at 1.4101.
Alternative Scenario:
If the price breaks below the support at 1.3923, this could open the door for further decline towards 1.3647, indicating weakened bullish momentum.
Key Levels:
Resistance: 1.4101
Support: 1.3962 - 1.3923 - 1.3647
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
