USDCAD Daily Analysis – September 6, 2023

USD/CAD has experienced a notable upward move, starting from 1.3092 and reaching as high as 1.3669.

Based on the current bullish momentum, there is a possibility for USD/CAD to continue rising in the coming days, with the next target potentially being around the 1.3750 area.

Immediate support can be found at 1.3595. If the price breaks below this level, it could indicate a retracement towards the rising trend line on the 4-hour chart.

The key support level to monitor is located at 1.3488. A break below this level could signal the completion of the current uptrend.

To make informed trading decisions, it is important to closely monitor the price action in USD/CAD, including the immediate support at 1.3595, the key support at 1.3488, and the potential target at 1.3750. These levels will provide valuable insights into the potential continuation or reversal of the USD/CAD trend.