USD/CAD Pair Struggles to Break Above 1.3500 Psychological Resistance
Friday, 23 February 2024, 08:31
USD/CAD Price Analysis
The USD/CAD pair is showing signs of weakness as it corrects near 1.3480 after failing to sustain above the psychological resistance of 1.3500. This struggle highlights the significance of the key level and the bearish pressure facing the pair.
Key Points:
- 1.3500 Level: The pair fails to break above this psychological resistance, indicating a lack of bullish momentum.
- 1.3480 Correction: The pair corrects near this level, signaling a bearish sentiment in the short term.
Overall, the USD/CAD pair's inability to surpass 1.3500 suggests a subdued outlook, with bearish pressure likely to persist in the near term.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.