(1,0297) The USD/CAD confirmed a small rebound finding however good resistance below 1,0360 form where it already plunged below the previous low suggesting a direct extension of the decline toward the 200 days line at 1,0206. The weekly closing was weak! The indicators of the daily chart are still well negative as well as those of the weekly one supporting further weakness. The indicators of the s/t ones have also returned below the line supporting the decline. Bullish divergences in the 4h chart support a negative tone. The drop confirmed also a new negative reversal suggesting a s/t target at 1,0225. We stay on the sideline!
Read the full report: USDCAD 09.16
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