FX.co ★ USD/CAD

Analyzing the movement of the US dollar against the Canadian dollar, it can be noted that the recent four-hour highs and lows of the "Zigzag" indicator once again confirmed the development of an upward trend that started on February 11th of this year. Currently, a new wave of growth for USD/CAD is beginning within the rebound from the upper boundary of the rising Ichimoku cloud. At the same time, the Stochastic indicator is at the bottom and is also preparing to turn upwards, providing new support for the bulls. As the uptrend continues to develop, bulls now need to break the resistance at 1.3725 along with the last two local highs of the pair, and attempt to enter the active buying area by rising above the upper boundary of the Trend Moving Average indicator.