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Long

USD/CAD Short Term Outlook

FX:USDCAD   U.S. Dollar/Canadian Dollar
198 0 1
USD/CAD             once again taken support around 1.2360 and reached till 1.24461. Short-term trend reversal level-1.2350.

In 4 hours chart CCI (50) has formed bullish divergence and this confirms that jump till 1.2540 cannot be ruled out.

On the downside break below 1.2350 will target 1.2300/1.2250.

It is good to buy at dips around 1.2380 for the target of 1.2490/1.2540.

Recommendation: Buy USD/CAD             around 1.2380, SL 1.2350, Targets 1.2490/1.2540.
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