FxWirePro
Long

USD/CAD SHORT TERM OUTLOOK

FX:USDCAD   U.S. Dollar / Canadian Dollar
135 0 3
USD/CAD             has taken support near 1.2425 and slightly recovered from that level. Overall trend is bullish as long as support 1.2400 holds.

On the downside any break below 1.2400 will take the pair further down till 1.2350.

The pair’s minor resistance is around 1.2515 and any break above would extend gains till 1.2579 (200 day 4HMA)/1.2650 in short term.

Indicators (4 Hour chart)

CCI (50) - Buy

CCI (14) - Buy

CCI (14) - Neutral

Recommendation: Buy USD/CAD             around 1.2450, SL 1.2400, Targets 1.2510/1.2575.

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