USDCAD Daily Chart : Upside Prevails
Pivot: 1.3400
Preference: long positions above 1.3400 with targets at 1.3800 & 1.3955 in extension.
Alternative scenario: below 1.3400 look for further downside with 1.3200 & 1.3000 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1.4100 **
1.3955 **
1.3800 ***
1.3537 Last
1.3400 ***
1.3200 ***
1.3000 ***
Preference: long positions above 1.3400 with targets at 1.3800 & 1.3955 in extension.
Alternative scenario: below 1.3400 look for further downside with 1.3200 & 1.3000 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1.4100 **
1.3955 **
1.3800 ***
1.3537 Last
1.3400 ***
1.3200 ***
1.3000 ***
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