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Short

USD/CAD Short term outlook

FX:USDCAD   U.S. Dollar / Canadian Dollar
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USD/CAD has broken major support 1.2530 (200 day 4Hour EMA ) and declined till 1.2426. Short term trend is still weak as long as support 1.2559 holds

On the upside minor resistance is around 1.2560 and short term trend reversal can happen only above that level. Break above 1.2560 could pave way for 1.2615/1.2665.

The pair’s minor support is around 1.2480 and any break below 1.2440/1.2400.

Indicators (4 hours Chart)

CCI (50) - Sell

CCI (14) – Sell

CCI (14) - Sell

Recommendation: Sell USD/CAD around 1.2490, SL 1.2560, Targets 1.2420/1.2400.
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