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Short

USD/CAD Daily Outlook

FX:USDCAD   U.S. Dollar/Canadian Dollar
204 0 2
USD/CAD             retreated after forming a temporary top around 1.2797. Short term trend is weak as long as resistance 1.2480 holds.

On the upside break of 1.2480 will take the pair to 1.2520/1.2540 in short term.

Overall trend reversal only above 1.2680.

The pair’s minor support is around 1.2350 and break of will target 1.2326/1. 2300             .

Indicators (1 Hour chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell

Recommendation: Sell USD/CAD             around 1.2425-30, SL 1.2481, Targets 1.2350/1.2328.
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