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USD/CAD Bull Bias Through 1.1403

Published 11/23/2014, 02:55 AM
Updated 12/12/2023, 05:55 AM

USDCAD bull trend looking to re-energize

  • We have stated in recent reports to our clients that “we continue to see better support on a dip to 1.1266/62” and “whilst above here, we see bias for a bounce to the setback range late this week, for 1.1403 and maybe 1.1450”.
  • The push close to 1.1403 leaves risk through here today and through mid-month we see upside risk above here and the recent cycle peak at 1.1468 to a Fibo extension level at 1.1495/ psychological 1.1500.
  • November overshoot threat is to 1.1655, the 61.8% retrace of the entire 2009-2011 bear market.

WHAT CHANGES THIS?

  • Below 1.1262 signals a neutral tone, only shifting negative below 1.1160.

Download our full report with latest screencast and levels here

4 Hour USD/CAD Chart

 USD/CAD

Weekly USD/CAD Chart

USD/CAD

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