On Friday, the USD/CAD traded higher and closed the day in positive territory around the price of 1.3565. Today the pair was trading in a narrow range of 1.3565-80, remaining close to the 3-week high. On the hourly chart, USD/CAD is still trading above the moving average line MA (200) H1 (1.3485). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above the MA 200 H1, may be you need to look for entry points to buy when a correction is formed.
Probably, the main scenario is a resumption of growth to 1.3585 (Sep 29 high).
The alternative scenario is consolidation above the MA 200 H1 line, followed by growth to 1.3375 (Sep 19 low).
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