USD/CAD: detailed breakdown and the next possible scenario

٤ أغسطس ٢٠٢٢As it can be inferred from the 8H timeframe chart of USD/CAD, some sort of a sideways-moving range has been formed and the price is currently consolidating at the lower boundary of it.

Considering a number of factors, we strongly believe that the price will bounce off the local area of support and reach the zone of resistance plotted on the graph.