FXTechstrategy
Long

USDCAD Remains On The Offensive, Eyes 1.2950/99 Area

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD remains on the offensive following its second day of higher close on Thursday. As long as it trades and holds above the 1.2882 level, it leaves its recovery intact. Support lies at the 1.2900 level where a break will aim at the 1.2850 level. Further down, support comes in at the 1.2800 level where a turn lower may occur. Then further weakness aim at support located at the 1.2700 level. Conversely, resistance lies at the 1.2950 level where a violation will turn focus on the 1.3000 level. Further up, resistance resides at the 1.3050 level and then the 1.3100 level. All in all, USDCAD looks to strengthen further on corrective recovery.
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