USD/CAD Medium Term Outlook

FX:USDCAD   U.S. Dollar / Canadian Dollar
USD/CAD has slightly declined after making high of 1.18405 after making low of 1.5591. Medium term trend is bullish as long as support 1.1550 (23.6% retracement of 1.16724 and 1.11211) holds.
The break below 1.1550 will take the pair to 1.1462/1.1400.
Long term trend reversal -1.1390.
On the upside break of 1.16724 would extend gain to 1.1886 (100% Fibonacci projection of 1.06195 to 1.13842 from 1.11211) /1.200 in the medium term.

Indicators ( Daily chart )
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy USD/CAD around 1.775, SL 1.155, Target 1.200.


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