The USD/CAD pair has been moving within the depicted bearish Yellow & Blue channels.
Today wecould observe the bullish breakdown with a full-body bullish 1H candlestick that made the pair to move within the violet channel.
Thus, the point 0.9890 is considered as an important intraday support for the pair as it corresponds to the backside of the broken upper limit of both channels & the lower limit of the violet channel.
Based on the previous analysis
For the intraday traders it is recommended to buy the USD/CAD pair at level 0.9890 with SL below 0.0860.
TP is to be placed at 0.9925 and 0.9960 levels.
