FX.co - USD/CAD analysis for March 07, 2022 - Potential for further upside continuation

2022-03-07T13:07:47

Relevance until2022-03-08

Technical analysis:

USD/CAD analysis for March 07, 2022 - Potential for further upside continuation

USD/CAD has been trading upside in the background. There is potential for the upside continuation towards next upside reference point at 1,2790.

Trading recommendation:

Due to impulsive upside movement last week and the breakout of the falling trend-line, I see potential for the further rally.

Watch for buying opportunities on the intraday pullbacks with the upside objectives at 1,2790 and 1,2845.

Key support is set at the price of 1,2635

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ USD/CAD analysis for March 07, 2022 - Potential for further upside continuation