The USD/CAD pair has started to develop its movement very technically. Just a reminder, for a whole month I have been forecasting a decline to the weekly support level of 1.3730. The price did not reach that and turned into an upward correction. It reached the 38.2% Fibonacci retracement level and then dropped from it. If we draw a retracement from the minimum to the maximum, it turns out that the price corrected to the 38.2% support and rose to 14.6%. There is an internal pattern here, which has a target at 61.8% at the price of 1.3850. There is a cluster of support from two levels. I predict a decline to that level, and then a reversal and a move to the maximum. In general, the USD/CAD has entered an upward correction and now intends to move higher within it. The growth horizon is significant and may take more than a month. In the future, I plan to open long positions, but for now, the price may decline to 1.3850.
