ClearEdgeFX

USDCAD - SHORT TERM BULLISH MOMENTUM - CANADIAN ELECTION

FX:USDCAD   U.S. Dollar/Canadian Dollar
57 0 2
The USDCAD             pair is showing short-term bullish momentum as it approaches the key 1.3000 level and the descending trendline. Should the break of the trendline occur we'll likely see a re-test of the recent supply zone around 1.3050. If we see strong rejection of that level it might be a good opportunity to go short and target the 1.2850 area. Worth reminding everyone that tonight Canada might see a new gov't forming that may have a negative impact for the Canadian dollar             .

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