FX.co ★ USD/CAD

In my brief forecast for today on this trading instrument USDCAD, I expect further growth of the currency pair toward the next resistance level. Most indicators on the hourly timeframe point to a rise of the currency pair toward the next resistance level. The overall trend on the 1-hour chart remains bullish. On the 1-hour chart we can see that the USDCAD currency pair is near the resistance price level of 1.42380. Today I expect a breakout of this resistance level 1.42380 and further growth of the currency pair toward the next resistance level 1.42546. If this currency pair USDCAD is able to break through this resistance level 1.42546 and consolidate above it, then I will expect further growth of the currency pair toward the next resistance level. But if this currency pair USDCAD is not able to break through this resistance level 1.42546 and consolidate above it, then I will expect a pullback of the currency pair to the support level 1.42546.