FX.co ★ USD/CAD analysis for February 08, 2022 - Potential for bigger upside movement

Technical analysis:

USD/CAD has been trading upside today and I see potential upside continuation towards upper references. There is the rejection of key support at 1,2660 in the background, which is good sign for further upside movement.

Trading recommendation:

Due to rejection of key support at $1,2660 in the background, I see further upside movement.

Watch for buying opportunities on the intraday pullbacks with the upside objective at 1,2785.

Key support is set at 1,2650