FX.co ★ USD/CAD analysis for January 14, 2022 - Potential for bigger upside movement

Technical analysis:

USD/CAD has been trading sideways at the price of 1,2517. I see potential for the upside breakout of key pivot at the price of 1,2527 and further rally.

Trading recommendation:

Watch for the potential breakout of key pivot resistance at 1,2527 and further rise.

Upside objectives are set at the price of 1,2605 and 1,2650

Stochastic is showing fresh bull cross, which is another sign and confirmation for the upside continuation.

Key support level is set at 1,2455