USDCAD: Long-term Analysis

USDCAD, Weekly

In the Weekly timeframe, USDCAD is in a long-term uptrend, and the price has reached a critical resistance area. Despite the solid bullish sentiment, the price has already bounced several times, so it is essential to consider two scenarios.

• If the price breaks the resistance area at 1.3870, it will reach 1.4360;

• However, another bounce from resistance will drop USDCAD to 1.3600;