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USDCAD | Daily Chart Analysis | Breaking Through Resistance | FOREX

Published: 09.04.2024
by Joseph Jeffriess

Hi, traders; thanks for tuning in for today’s update. Today, we are looking at USDCAD daily.

Today’s focus: USDCAD

Pattern – Heavy Resistance
Support – 1.3514, 1.3454
Resistance – 1.3602

Will current heavy resistance continue to block buyers? Does the price have enough momentum in its current bull channel? Will this week’s data and news be enough of an influence to set off a new break lower or higher?

USDCAD Daily Analysis: Resistance, Momentum, and Key News Ahead

Key news: US CPI, PPI, Fed meeting minutes, and the Canadian interest rate decision.

Good trading.

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