FX.co ★ USDCAD, Day | Strong Ascending trendline ?

USD/CAD has been experiencing a bullish trend, propelled by a significant ascending trend line, indicating that further upward momentum is possible. As for the support and resistance levels, the initial support level is situated at 1.3494, which is a robust overlap support level that has previously held the price. Additionally, the secondary support level is at 1.3227, which is also an overlap support level.

On the other hand, the first resistance level stands at 1.3677, which is an overlap resistance level. If the price manages to surpass this resistance level, it could potentially reach the second resistance level at 1.3871, which is a multi-swing high resistance level.

If the price rebounds from the initial support level, it may move towards the first resistance level. However, if it falls below the initial support level, the next support level is at the secondary support level of 1.3227