The USDCAD has experienced a bullish breakout through the downward channel’s resistance. The target is set at 1.3769.

A trading configuration was spotted on USDCAD. The USDCAD price breached the resistance line of a Channel Down pattern on 22 Apr 2024 at 08AM. There’s a potential bullish price movement predicted for the coming 22 hours towards 1.3769.

The pattern’s overall visual quality is moderate. The trading configuration is distinct, albeit with slight noise during the oscillations between support and resistance. The breakthrough of resistance was rather feeble. It is advisable to wait for additional confirmation of this breakout before initiating a position.