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
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.