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USD/CAD Price Analysis: 1.3550 in the crosshairs for fresh momentum

  • USD/CAD corrects at key support and bulls enter the picture.
  • USD/CAD bulls point to a continuation higher towards 1.3550.

According to the latest analysis, in which USD/CAD bulls moved to test above 1.3500the market has moved in the area and the bulls are still in control, as illustrated below:

USD/CAD Prior Analysis

Bulls have moved on a 50% mean reversion sign with 1.3600 in sight.

USD/CAD Update

The W formation is a reversal pattern to watch the current rally for a slowdown on lower time frames for a bearish structure. However, the bulls remain in front of the uptrend line:

4 hour chart

Being at the forefront of the uptrend, we could make the thesis that there may be a bullish continuation towards 1.3550.

Source: Fx Street

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