USDCAD Analysis

While we have analyzed USDCAD in the Klarenbach Report, this is is our first Forex analysis for this publication.

The USDCAD weekly chart is below.

Notice the 30-, 40- and 50-Week Moving Averages aligned and rising.

I see USDCAD rising into the confluence of the:

• purple 200-week MA;

• yellow VWAP from the 2020 high;

• 0.382 Fibonacci level in lime green;

• the previous 2019 support level.

The first target ranges from 1.2944 to 1.30349.