FX.co ★ Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Tuesday February 20, 2024.

So far as we can see, on the 4 hour chart, USD/CAD commodity currency pairs, there is a Rising Wedge pattern followed by the Stochastic Oscillator indicator which will enter the Overbought area level in the near future, so it is predicted that Loonie will try to test resistance level of 1,3550. If Resistance level able to hold USD/CAD and won't continue the strengthening to break above the level 1,3585, then USD/CAD has the potential to fall down to its weakness until the level of 1,3459. If this level manage to breaks, then USD/CAD has the potential to continue its weakness to the level 1,3425 as the main target and level 1,3333 as the next target.

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