USD/CAD Short Term Outlook

FX:USDCAD   U.S. Dollar / Canadian Dollar
USD/CAD has made a high of 1.20162 and is slightly retreating from that level. Short term trend is bullish as long as support 1.190 (23.6% retracement of 1.15636 and 1.20162).
On the upside major resistance is around 1.2016 and any break above will target 1.2148 (161.8% retracement of 1.18017 and 1.20162).
The break of 1.1900 will take the pair to 1.1850/1.1800.

Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy

Recommendation: Buy USD/CAD 1.195, SL 1.190, Target 1.2140.


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