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The USDCAD price exits the sideways track – Forecast today - 11-04-2024
USDCAD Price Analysis
Expected Scenario
- The USDCAD price rallied strongly yesterday, breaching the 1.3606$ level and exiting the recent sideways range.
- This indicates a continuation of the main bullish wave, with the next main target at 1.3810 areas.
Expected Outcome
We expect to witness further rise in the upcoming sessions, organized inside the bullish channel visible on the chart.
Note that breaking 1.3606$ will halt the bullish wave and may lead to a temporary decline before resuming the uptrend.
Expected Trading Range
Between 1.3620$ support and 1.3760$ resistance.
Trend Forecast: Bullish
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