As we noted in today’s “Fundamental Analysis,” “given the strong upside momentum, it makes sense to assume further growth.” USD/CAD is in the bull market zone, above the key support levels 1.2865, 1.2835. The break of the local resistance level 1.3343 will be a confirmation signal of our hypothesis. In an alternative scenario (for more details, see “USD/CAD: Technical Analysis and Trade Recommendations for 09/20/2022”) and after the breakdown of the local support levels 1.3227 and 1.3183 in the short term, the correction to the low can continue to rise. at support levels 1.3056, 1.3020. A deeper decline is unlikely.
The driver of the current movements in the USD/CAD pair may be the release at (12:30 GMT) of the Consumer Price Indices in Canada (for more details, see the main economic events for the week of 09/19/2022 – 09/25/2022). /2022).
Support levels: 1.3227, 1.3183, 1.3070, 1.3056, 1.3020, 1.2960, 1.2885, 1.2865, 1.2835, 1.2740
Resistance levels: 1.3300, 1.3343
• signal -> Insta79 -> https://www.mql5.com/en/signals/1617289
• see also “Technical analyzes and commercial recommendations” -> https://t.me/fxrealtrading