The USDCAD pushing higher, test levels not seen since April 2020 at 1.4264. A breach above this main resistance would open the door to the next target nearby High March 8, 2020 at 1.4348.
Since late September, the USDCAD has been steadily rising, starting from around 1.3425– an important movement that reinforces the phrase: “the trend is your friend.” In strong trends like this, it is essential to identify levels that need to be broken on the downside to indicate that sellers are starting to regain control. Without these breaks, sellers simply do not win, and the buyers have a strong control over the market.
In this video, I analyze the key technical levels that traders must break – and hold – to gain even the slightest confidence. If these levels are not broken, the bullish trend will remain intact, and buyers will continue to dominate the price.
