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Long

USD/CAD Medium Term Outlook

FX:USDCAD   U.S. Dollar/Canadian Dollar
132 0 1
USD/CAD             has recovered after making low of 1.5591. Medium term trend is bullish as long as support 1.1540 (23.6% retracement of 1.16724 and 1.11211) holds.
The break below 1.1540 will take the pair to 1.1462/1. 1400             .
Long term trend reversal -1.1390.
On the upside break of 1.16724 would extend gain to 1.1886 (100% Fibonacci projection of 1.06195 to 1.13842 from 1.11211) in the medium term.

Indicators (Weekly chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy USD/CAD             around 1.1650, SL 1.1540, Target 1.1886.
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