(1,0146) The USD/CAD formed a negative outside day after a quick 1,0160 overshooting where it found however good resistance. The daily closing did not confirm the test below 1,0110. For the coming hours we suggest following the new outside day with 1,0180 – 1,0095 the levels. A daily closing below 1,0095 will confirm direct lower levels and of course our s/t target!! The indicators of the daily chart are still well negative and at the moment also those of the s/t ones are below the line supporting further weakness. While below the 200 hours line at 1,0161 we expect further weakness and a firm drop below 1,0100. We suggest keeping the shorts for this possible drop with the stop still at 1,0180, stop and reverse for a 1,02 overshooting!!
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Future Trend Research