USD/CAD on a 1-hour timeframe
The current price is around 1.36830-1.36841, which is near the support zone.
The recent price action indicates that the market has found support at the 1.3660 level and is consolidating above it.
The blue highlighted area around the 1.3660 level, represents a strong support zone.
The price has tested this area multiple times and shown a tendency to bounce back from it.
The projection indicates a potential bullish move from the support zone up to the 1.37777 level.
This suggests an expectation of a price increase after possibly forming a base around the support.
The recent price action indicates that the market has found support at the 1.3660 level and is consolidating above it.
The blue highlighted area around the 1.3660 level, represents a strong support zone.
The price has tested this area multiple times and shown a tendency to bounce back from it.
The projection indicates a potential bullish move from the support zone up to the 1.37777 level.
This suggests an expectation of a price increase after possibly forming a base around the support.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.