Prospects of the currency pair USD/CAD based on technical analysis. The basis of TA - support and resistance levels, RSI and AO indicators. Let's look at the chart:
We are stuck in a trading range. The pair tested the support level and is now preparing for a correction. Let's look at the indicators. The pair has come down nicely, but has not reached the target and turned around. As we can see on the chart, the pair tested the level of 1.3815 and is currently trading at a price of 1.3831. RSI is moving towards the middle of the range and hesitantly looking up, AO is showing a weak selling signal, and the price of the USDCAD pair is within the trading range of the previous day. The signals are flat, but there is a very small probability of a slight increase. I assume that the price will test the resistance level of 1.3850. Based on the analysis, cautious purchases are recommended up to 1.3845. However, remember that the market can be subject to sudden changes, so carefully assess your risks.
