For USD/CAD, the potential bullish momentum scenario is as follows:
Description: The chart indicates a strong bullish momentum, with significant resistance identified at two levels.
Resistance Levels:
The 1st resistance level is observed at 1.3567, designated as a "Pullback resistance." This level indicates a historical barrier where the price has encountered selling pressure after reaching previous highs.
The 2nd resistance level is located at 1.3618, recognized as a "Pullback resistance." Like the 1st resistance, it represents another historical level where the price has struggled to move above due to selling pressure.
Support Levels:
The 1st support level is at 1.3436, characterized by a "Pullback support." This level suggests a historical area where the price has found support, coinciding with previous price action.
The 2nd support level is positioned at 1.3355, noted as a "Pullback support." This level represents another historical zone where price has found support, indicating potential buying interest.
