USDCAD rallied strongly to probe above 3-12 month falling trendline (from March 18, 2015 high). A decisive breakout would confirm return of bullish momentum and open 1.2526 (June 1/5, 2015 highs). Above would bolster for 1.2666 (near 76.4% of the 1.2834/1.1919 fall) which guards the 1.2834 high. The immediate 1.2362/1.2308 support area should hold dips. Below lies the key 1.2217 area near the 9-month rising trendline (from September 4, 2014 low) which has been underpinning the uptrend.
Outlook:
Short term: bullish
Long term: bullish
Outlook:
Short term: bullish
Long term: bullish
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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.