USD/CAD

By Anand Srivastav

Major Currency Pairs

, 1 hour

long

#Technical

#Reversal

Range

Resistance 1 1.37311
Quote Price 1.36957
Support 1 1.36199

On the 1 hour chart, we can see that the price recently diverged with the MACD which is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, we got a pullback into the downward trendline and the Fibonacci resistance, but if the price continues higher, the next target would stand around the 1.3731 high where a further breakout would open the door for a rally into the 1.39 handle.