USDCAD Daily Analysis - Friday, Aug. 25

By Staff of ForexCycle

Analyst and Forex Trader • Aug 25, 2023 at 9:40 AM EDT

USDCAD is currently encountering resistance at the 1.3603 level. If this barrier is successfully breached, it could indicate a resurgence of the uptrend that commenced from 1.3092.

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USDCAD is currently encountering resistance at the 1.3603 level. If this barrier is successfully breached, it could indicate a resurgence of the uptrend that commenced from 1.3092. In this scenario, the next notable target would be around the 1.3650 area.

Conversely, the key support to watch is located at 1.3495. A decline below this level would imply that the upward movement may have concluded, and in such a case, the pair could find support in the vicinity of the 1.3450 region.

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