Home USDCAD: Maintains Offensive Bias

USDCAD: With USDCAD continuing to retain its broader upside bias, further bullishness is now envisaged. In such a case, it will aim at 1.1097 level.

On the upside, resistance is seen at the 1.1150 level followed by the 1.1200 level. Further out, resistance comes in at the 1.1250 level where a turn lower may occur.

But if further recovery is triggered resistance comes in at the 1.1150 level. On the downside, support lies at the 1.1050 level followed by the 1.1000 level where a reversal of roles as support is envisaged.

Further out, resistance resides at the 1.0950 level and then the 1.0900 level. All in all, USDCAD continues to face further upside risk.


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