USDCAD Analysis – October 2, 2023

USD/CAD has experienced a bounce from 1.3379, extending as high as 1.3584.

There is a possibility of a further rally in the coming days, with the next target to consider around the 1.3640 area.

The immediate support level is at 1.3480. If the price breaks below this level, it could trigger another decline towards the 1.3379 support level.

Traders should closely monitor the price action, paying attention to the mentioned support and resistance levels. These levels can provide valuable insights into potential breakout or reversal signals.