Current price: 1.4245
Key point: 1.4200
Our preferred strategy: Buy positions above 1.4200 with a first target of 1.4295 and then a second target of 1.4415.
1.4080 Alternative: Stop loss and trend reversal upon breaking the 1.4150 level, targeting the following levels.
Technical commentary
The USD/CAD pair is holding above the key support level of 1.4200 and above the upward trend line from last month's low, suggesting a potential move towards 1.4295. A break above this level and sustained highs would then target 1.4415.
