USDCAD - Consolidates under key retracement level
USDCAD 1.3131 – neutral – Consolidates under key retracement level
USDCAD reached the 1.3457 multi-year high (September 29, 2015) near 61.8% of the 1.6184/0.9059 entire fall (1/2002 high/11/2007 low) before consolidating. The 1.2832 area (October 15, 2015 low) and then 1.2476 (July 1, 2015 low) are supports on pullbacks on the long-term chart. However, renewed strength over 1.3457 would accelerate the 3-year rally towards 1.4003 (May 2004 high) next.
Outlook:
Intraday: neutral
Daily: neutral
Weekly: bullish
Monthly: bullish
USDCAD reached the 1.3457 multi-year high (September 29, 2015) near 61.8% of the 1.6184/0.9059 entire fall (1/2002 high/11/2007 low) before consolidating. The 1.2832 area (October 15, 2015 low) and then 1.2476 (July 1, 2015 low) are supports on pullbacks on the long-term chart. However, renewed strength over 1.3457 would accelerate the 3-year rally towards 1.4003 (May 2004 high) next.
Outlook:
Intraday: neutral
Daily: neutral
Weekly: bullish
Monthly: bullish
