💱USDCAD - Consolidation before further growth is formed

26 Eyl 2023

USDCAD does not tend to fall after breaking the support at 1.3497. On the background of high timeframe the price retests the key level 1.33724 and forms a correction. Patterns for further growth appear within the correction

TA on the high timeframe:
1) Price returns to 1.3502
2) A pre-breakout consolidation is forming near the level.
3) There is an important liquidity area ahead, above 1.35200, an impulse will be formed if this zone is broken through.

TA on the low timeframe:
1) A consolidation within a symmetrical triangle is formed near the level of 1.3497
2) A retest of the pattern resistance and a retest of 1.3497 is formed
3) Chance is higher that the resistance will be broken, in this case a break of 1.3497 will form an impulse to 1.35668.

Key support📉: 1.34500
Key resistance📈: 1.3497