The USD/CAD chart indicates the potential for a bullish bounce, with significant support and resistance levels playing a key role.
Support Levels:
At 1.35220, the 1st support level is characterized as "Pullback support." This level suggests a zone where buying interest may emerge, potentially facilitating a bounce. Furthermore, the 2nd support level at 1.34210 is identified as "Multi-swing low support," signifying its potential significance in providing support to the price.
Resistance Levels:
On the resistance side, the 1st resistance at 1.36080 is labeled as "Pullback resistance." This level implies a zone where selling pressure might surface, potentially impeding upward momentum. Additionally, the 2nd resistance level at 1.36550 is supported by "An Overlap resistance," emphasizing its role as a significant resistance zone.
