(1,0082) The USD/CAD confirmed our s/t target with an extension toward 1,0050 where it found decent support for the moment. Yesterday it managed however to form a positive day reversal but only a daily closing above 1,0101 will confirm a s/t bottom!! The monthly closing was weak below the low of the previous month!! The indicators of the daily chart are well negative but those of the monthly one closed well above the line despite weakness. The indicators of the s/t charts are showing a mixed picture also this morning supporting some consolidation/ correction. Only an hourly closing above 1,0100 will postpone further weakness favouring a rebound. We stay on the sideline waiting for a decent rebound to sell!!
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