Yesterday the USD/CAD traded in different directions in the range С$1.3410-С$1.3540 and closed the day without significant changes. Today it was also trading in a narrow range of C$1.3465-95, staying close to the highs of September 2020. On the hourly chart, USD/CAD is still trading above the moving average line MA (200) H1 (C$1.3270). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the USD/CAD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: С$1.3540, С$1.3600, С$1.3700
Support levels are at: С$1.3410, С$1.3355, С$1.3275
Probably, the main scenario is continued growth towards C$1.3540 (Sep 22 high).
An alternative scenario is a consolidation below the MA 200 H1 line, followed by a fall to C$1.2955 (Sep 13 low).
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