(1,0500)The USD/CAD confirmed a session of consolidation interior the previous day’s range forming a new inside day with 1,0550 – 1,0460 the levels to follow; only a daily closing below 1,0460 will support lower levels! The indicators of the daily chart are still well positive while those of the s/t ones are however still showing a mixed picture suggesting further consolidation. It is finding a good support at 1,0475 and an hourly closing above 1,0513 will support a rebound suggesting a retest of the 1,0570 area. The drop below 1,0480 failed yet to form divergences showing however potential positive reversal suggesting a potential s/t target at 1,0718. We are now less positive about a deeper correction. We move therefore the stop to 1,0517
Read the full report: USDCAD 08.29
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