USD/CAD Price Analysis: Bulls eye a break of the 1.3480s USDCAD Technical Analysis
Firstly, the double bottom is a bullish scenario on the daily chart. While the market is coiling and the breakout of the triangle could go either way, there appears to be support as follows:
The correction of the prior bullish impulse into the 50% mean reversion area is decelerating and could lead to a bullish continuation. On the 4-hour chart, we see that the price is on the approach to the 1.3470s and a break of 1.3480 would potentially pull in further demand. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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