USDCAD grow from support zone

2021年2月8日

After the price broke through the resistance level of 1.292 in December, it entered the support zone.
The zone formed between the two lines.
Supports and resistances that both appeared in 2019.

In this zone, the price regularly makes corrections.
The last time the price touched the support at point 1.261 at the end of January.
After that, her movement took place in the area between the zone and the resistance.
At the end of last week, it fell from resistance and touched the lower border of the 1.275 support zone.
Today the price started to rise from this zone.
I expect it to continue to rally and return to resistance.
The target is 1.286.

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