USD/CAD has recovered after making low of 1.17300. Overall trend is bullish as long as support 1.17950 (23.6% retracement of 1.1559 to 1.18725). On the downside any break below will take the pair to 1.1750/1.1730. The pair’s minor resistance is around 1.18725 and any indicative break above will take the pair to 1.1960 (161.8% retracement of 1.18725 and 1.1730).
Indicator (4 Hour Chart) CCI (50) – Buy CCI (14) – Buy Ichimoku- Neutral
Recommendation: Buy USD/CAD around 1.18400, SL 1.17950, Target 1.1960.