FX.co ★ USD/CAD

The USDCAD pair is confidently assaulting multi-day highs around 1.41926 on the 30-minute timeframe after a strong upward impulse from the 1.41255 level. Buyers have completely seized control of the market, and a series of green candles with solid bodies confirms genuine interest from large capital. Volumes on the rise noticeably exceed those during corrections, indicating demand dominance at the moment. The price has already settled above all intermediate resistance levels, which have now turned into reliable supports. Long lower wicks on pullbacks demonstrate how quickly any attempts to sell are absorbed by buyers' limit orders. The local market structure looks pristine with a clear sequence of higher lows and higher highs with no hint of a reversal. From the current levels around 1.41850 a long position looks excellent after a small retracement to the broken 1.41697 level. The first target for the upside will be a test of resistance at 1.41926 and consolidation above it. The next target will be the 1.42261 zone, where active consolidation previously occurred. The upward move looks significantly more likely and richer in potential within the forming bullish trend.