USDCAD bullish trend extension bias
- A modest setback again Monday after a new recovery high on Friday, but whilst above modest support at 1.0877 and better foundations at 1.0845 and 1.0795, we see upside risks as intact.
- This leaves early August bullish pressures from the push through 1.0890 that saw a more bullish shift.
- We still aim higher and see upside risk to chart targets at 1.0960, 1.1005 and 1.1055.
- For Tuesday, we see a digestion theme between 1.0877 and 1.0945.
WHAT CHANGES THIS?
- Below 1.0845 eases bull risks; through 1.0795 signals a neutral tone, only shifting negative below 1.0700.
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