USDCAD Chart Technical Outlook can go higher on a risk-off sentiment today and the anticipated easing figures from Canada’s CPI data today
The pair trades in a broader consolidative pattern of WXY structure, and wave Y is in play.
Trading above 1.3500 will push it higher to retest the previous swing high and just below a downward trendline, where I expect a bounce lower.
Resistances: 1.3550, 1.3625
Supports: 1.3400, 1.3340