The USD/CAD chart currently shows a bullish momentum, suggesting a possible uptrend. In the short term, the price may drop to the first support level at 1.3574 before potentially bouncing back up towards the first resistance level at 1.3667. The 1.3574 support level is significant as it aligns with the 50% Fibonacci Retracement level, and there's another support at 1.3488. On the resistance side, the 1.3667 level is significant due to multi-swing high resistance and the 127.20% Fibonacci Extension. Additionally, the 2nd resistance at 1.3744 aligns with the 161.80% Fibonacci Extension, making it a potentially strong resistance level.
