FX.co - USD/CAD analysis for September 16, 2022 - Potential for the upside continuation

2022-09-26T07:29:28

Relevance until2022-09-27

Technical analysis:

USD/CAD analysis for September 16, 2022 - Potential for the upside continuation

USD/CAD has been trading upside as I expected and the price is on strong bull run. I still see potential for further rally after the pullback.

Trading recommendation:

Due to the strong upside condition on USD/CAD, I see potential for further growth towards the next key pivot level.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.3700.

MACD oscillator is showing upside reading with no signs for the reversal.

Support level is set at the price of 1.3550

*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 September 16, 2022 - Potential for the upside continuation