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USD/CAD Aims For Break Above Key Barriers

Published 11/29/2013, 02:56 PM
Updated 12/12/2023, 05:55 AM

USD/CAD aims for break above key barriers at 1.0610 and 1.0657

  • A resilient tone and probe still higher going into the end of the week and month to again reinforce the push above the 1.0565 August peak.
  • This leaves upside risks this week from the strong rally from last week from ahead of 1.0405/1.0395 support.
  • The threat remains higher to the 1.0610 cycle high through month-end, whilst into Dec, the risk is for a more bullish statement, through a key 1.0657 barrier.
  • A break here would complete a multi-year base and target a key 1.0805/54 area into yea-end.

WHAT CHANGES THIS?

  • Below 1.0395 eases bull risks to neutral, shifting negative below 1.0310.

Please see latest audio-visual analysis here:
Daily <span class=USD/CAD" title="Daily USD/CAD" height="477" width="609">

Weekly <span class=USD/CAD" title="Weekly USD/CAD" height="477" width="609">

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