The USDCAD moved above the 38.2% retracement of the transfer down from the Could 2023 excessive at 1.3306.

On the hourly chart, the patrons have been trending the pair to the upside during the last 2 days with little in the way in which of corrections.

On the 5-minute chart, after correcting decrease into the Asian session, the value of the USDCAD began to development to the upside and use its 100-bar shifting common on the chart as a help degree to propel the pair to the upside (see blue line on the chart beneath).

On this video, I analyze the technicals driving the USDCAD by transitioning from the every day chart, to the hourly chart, to the 5-minute chart to color the bullish technical image. I additionally outline the place that technical image begins to tilt extra in favor of the sellers.