Description
⋅ 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.