The USDCAD price finds solid support – Forecast today - 19-04-2024

USDCAD Price Analysis

• The USDCAD price found solid support at 23.6% Fibonacci correction level at 1.3760$, to rebound bullishly and head towards resuming the main bullish trend, as it stops the bearish correction to recover and target testing the recently recorded top at 1.3845$ initially, noting that breaching this level will push the price towards 1.3910$ as a next positive station.
• Therefore, we expect to witness more rise in the upcoming sessions, noting that breaking 1.3760$ will stop the bullish trend and push the price to achieve additional bearish correction that its next targets reach 1.3705$ followed by 1.3660$.

The expected trading range for today is between 1.3730$ support and 1.3870$ resistance.

Trend forecast: Bullish