FX.co ★ USD/CAD analysis for September 16, 2022 - First upside objective has been reached, potential for second target

Technical analysis:

USD/CAD has been trading upside as I expected and the price has reached the first upside objective at the price of 1.3280. Anyway, I see potential for further upside movement due to the strong upside momentum.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the key multi-year resistance at the price of 1.3220, I see potential for further big growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.3400

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.3140