Currently, the USD/CAD pair has impulsively broken through the resistance at the level of 1.3925 and is currently capable of continuing its northern direction. The moving average is acting as support slightly below the quotes, which is a positive sign for the northward movement. It is quite realistic for the price to reach the resistance at the level of 1.4000, where there might be a bounce with a correction or a breakout with further continuation. However, the fact that there is no solid consolidation above this level yet means that the price could retreat from current levels below this point and then below the moving average. Such a scenario does not favor further upward movement; instead, it suggests a continuation of the southern direction, at least towards the support at 1.3864 in this case. Wishing everyone good luck.
