The USD/CAD chart currently shows bullish momentum, suggesting potential for continued upward movement. In the short term, there is a chance of a bullish continuation towards the first resistance level at 1.3535, which is a significant swing high resistance and aligns with a 78.60% Fibonacci retracement. This level poses a notable challenge for the price. On the support side, the first support at 1.3420 acts as an overlap support, offering potential support in case of a price drop. Additionally, the second support at 1.3338 is identified as a swing low support, providing further support if needed. Looking ahead, the second resistance level at 1.3580 serves as a pullback resistance, coinciding with a 78.60% Fibonacci retracement and creating a stronger barrier for the price.
