USD/CAD: Continues To Maintain Up Bias Triggered Off The

USD/CAD: We continue to retain our upside bias on USD/CAD. The risk points higher towards the 1.0497/1.0502 levels.

Further out, resistance resides at the 1.0550 level with a decisive violation of here turning attention to the 1.0600 level followed by the 1.0650 level.

Further out, resistance resides at the 1.0700 level. Its daily RSI is bullish and pointing higher supporting this view. Support lies at the 1.0400 level with a violation targeting the 1.0350 level.

A cut through here will aim at the 1.0300 level and then the 1.0244 level. All in all, USD/CAD now faces further upside threats.

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FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.

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