(1,0525) The USD/CAD confirmed a positive closing and also the weekly and monthly one was positive supporting further upside potential. Overall the cross is still consolidating interior the inside day with 1,0555 – 1,0460 the levels to follow despite 2 test on the upside that it never managed to confirm! The indicators of the daily chart are still well positive as well as those of the weekly and monthly charts. The indicators of the s/t charts are instead below the line this morning suggesting some consolidation/ correction. Possible therefore a new test on the downside but only a 1,0470 confirmed by an hourly closing will confirm lower levels!! We stay on the sideline.
Read the full report: USDCAD 09.02
Future Trend