- USD/CAD Price Analysis: Bulls eye a break of 1.3450 for a look in at the 1.35 area
Market news
16 January 2023
USD/CAD Price Analysis: Bulls eye a break of 1.3450 for a look in at the 1.35 area
- USD/CAD is based above a prior target low in the 1.3320s.
- USD/CAD is embarking on a correction but 1.3450 needs to give.
As per the prior analysis, the bears were in control and ran into the target in the 1.3320s but threw in the towel there. The price has since been established and moved in to test the 1.34s.
The bears are in charge now and the 1.3350s guard a run to the 1.3300 target:
USD/CAD update
At this juncture, the price is embarking on a correction but 1.3450 needs to give:
There is a price imbalance that has been left behind since the major sell-off at the start of the year that could be mitigated in the coming days towards 1.3550.
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