FX.co ★ USD/CAD analysis for September 28, 2022 - First target reached and potential for further rally

Technical analysis:

USD/CAD has been trading upside as I expected and the price has reached the first upside objective at the price of 1.3780. Anyway, I see potential for further upside movement due to the strong upside momentum.

Trading recommendation:

Due to the strong upside pressure in the background and rejection of the rising trend-line, I see potential for further rally.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.3850 and 1.3900.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.3625