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USDCAD Strengthens On Intra-Day Price Reversal

FX Tech Strategy
Updated:

USDCAD: The pair reversed its intra day losses to trigger its trend resumption during Thursday trading session. This price action now leaves USDCAD targeting more bullish offensive towards the 1.3350 level. A break of here will open the door for more strength towards the 1.3400 level.

Further out, resistance comes in at the 1.3450 level and then the 1.3500 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 1.3300 level where a violation clear the for more weakness towards the 1.3250 level. Further down, support stands at the 1.3200 level and subsequently the 1.3150 level. All in all, USDCAD looks to strengthen further having halted its corrective pullback.

USDCAD

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FX Tech Strategy

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