The USDCAD price keeps rising – Forecast today - 15-04-2024

USDCAD Price Analysis

Expected Scenario

The USDCAD price shows more positive trades to approach our awaited target at the bullish channel’s resistance line, currently rising to 1.3825$. This keeps the bullish trend active on the intraday basis. However, it's important to monitor the price upon reaching the mentioned target due to its significance in determining the next destination.

Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise. It's crucial to hold above 1.3705$ to ensure the continuation of the current bullish wave. Breaking below it might force the price to test the bullish channel’s support line around 1.3515$ before any new attempt to rise.

Expected Trading Range

The expected trading range for today is between 1.3700$ support and 1.3840$ resistance.

Trend Forecast

Bullish