USDCAD Analysis: Buyers Defend Key Level Ahead of NFP Data

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USDCAD Analysis: Buyers Defend Key Level Ahead of NFP Data

Since April 20, USDCAD has been moving sideways without a clear trend. However, in recent days, the pair has found strong support around 1.3780 for the second time, suggesting that buyers are actively defending this zone.

With the upcoming NFP data, there's potential for a bullish move. If the report fuels buying momentum, USDCAD could rise toward the resistance levels at 1.3855 and 1.3890, as seen on the chart.

You may find more details in the chart!
Thank you and Good Luck!

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✅USDCAD - The price tested the zone 4 times and increased. It was not a clear pattern but confirmed yesterday after FOMC.
I hope you benefited from this movement.