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17.01.202305:50 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pair; Tuesday, January 17, 2023.

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If we look at the 4-hour chart for the USD/CAD commodity currency pair, we can see:

1. Bullish 123 Pattern.

2. Deviations appear between price movements and the Awesome Oscillator indicator.

Based on the two facts above, in the near future The Loonie will try to go up to break above the 1.3439 level. If this level is successfully broken above, this commodity currency pair will have the potential to rise up to the 1.3471 level as its first target and the 1.3513-1.3562 area level as the next target but if on the way to the targets that have been described suddenly The Loonie reverses downwards to break below the 1.3316 level then all scenarios that have been described just now will become invalid and cancel automatically.

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