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Long

USD/CAD Daily outlook

FX:USDCAD   U.S. Dollar / Canadian Dollar
249 0 5
USD/CAD             has recovered after making a low of 1.2596. Intraday trend is bullish as long as support 1.2630 (55 day Hourly EMA ) holds.

On the downside any break below 1.2630 will take the pair further down till 1.2580/1.2540 ins short term.

The pair is facing strong resistance around 1.2705 and break above could pave way for next target 1.2790/1.2833 (161.8% retracement of 1.26620 and 1.23864).

Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy USD/CAD             around 1.2685, SL 1.2630, Targets 1.2790/1.2830.
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