Recently, the USD/CAD pair has been trading upwards. The price tested the level of 1.2970. According to the H1 time frame, I found a potential end of the (abc) downward correction phase, which is a sign that selling looks risky. I also found a breakout of the intraday bullish flag in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the levels of 1.3045 and 1.3085.
Resistance levels:
R1: 1.2954
R2: 1.2985
R3: 1.3012
Support levels:
S1: 1.2896
S2: 1.2869
S3: 1.2838
Trading recommendations for today: watch for potential buying opportunities.
