USDCAD Daily Analysis – August 24, 2023

USDCAD has shown significant strength, with the pair extending its upward movement from 1.3092 to a high of 1.3603.

If the support at 1.3495 remains intact, there is a likelihood that the upward move may continue. In such a scenario, the next target for USDCAD would be around the 1.3650 area.

On the downside, a breakdown below the support level at 1.3495 would suggest that the recent upward move has concluded at 1.3603. In this case, USDCAD would potentially find support around the 1.3450 area.