Market Analysis of USDCAD on Tuesday 12 September 2023

2023-09-12 13:57Source:BtcDana

USDCAD TECHNICAL ANALYSIS SHORT TERM VIEW      

 USDCAD has strong support 1.3440 to 1.3554 levels and it can rise towards  towards 1.3700  levels sharply because it has made irregular correction at top as shown in graph .Overall trend is positive  and as long as it hold support it can rise towards1.3900 level as well.Inner calculations suggesting for intraday purpose or positional purpose 1.3385 stop loss  and it can rise for 1.3590 ,1.3610 and final target 1.3640 .

 QUICK FUNDAMENTAL LOOK                                                                     

The Canadian dollar strengthened against its U.S. counterpart on Monday, adding to its recovery from a five-month low, as an increase in risk appetite weighed on the safe-haven U.S. dollar.

POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.

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