(1,0108) The USD/CAD confirmed another very weak closing last night that is favouring the retest of the 1,01 area with a possible direct extension toward the key level at 1,0080; a daily closing below this level will support further weakness suggesting a possible move toward the 200 days line now found at 0,9989. The indicators of the daily chart are well negative but those of the monthly one are still above the line. The indicators of the s/t ones are mixed. Bullish divergences support however still lower levels. Only an hourly closing above 1,0115 will postpone the decline favouring a rebound. We still expect further weakness suggesting a retest of the 1,0080 area. We stay on the sideline waiting for a decent rebound to sell!!
Click here to read the full report: USDCAD 04.30
Future Trend