The ongoing scenario of accidental confusion remains today with alternating red and green daily candlesticks within the same price range.
Support level around 1.0016-0.9995 provided evident bullish steam for the pair to step above 1.0300. Hence, there might be further bullish pressure to test 1.0430 level.
On Monday, the USD/CAD pair dropped sharply but remained stable above significant support 1.0260 (previous top established in April). This enhanced the bullish view for the pair.
As long as the USD/CAD bias remains bullish, the pair should not step below 1.0260 (significant support levels depicted on the chart) with a fairly good BUY entry at retesting which expressed quite strong bullish reaction yesterday supporting our position.
Support: 1.0300, 1.0260, and 1.0210.
Resistance: 1.0385, 1.0430, and 1.0475.
Trading recommendation: Based on the chart above, buying the pair around 1.0300-1.0260 remains valid targeting 1.0355, 1.0430 and SL as 4H closure below 1.0215.
