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Short

USD/CAD Short term Outlook

FX:USDCAD   U.S. Dollar/Canadian Dollar
147 0 3
USD/CAD             Has formed temporary top around 1.16724 and is declining from that level. Overall trend is bearish as long as resistance 1.16315 ( Median line ) holds.
The pair’s minor support is around 1.15580 and any indicative break below will take the pair to 1.1502/1.13980.
On the upside break of 1.16315 would extend gain to 1.16724/1.1690.

Indicators (1 Hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell USD/CAD             around 1.1600, SL 1.1632,Target 1.1502
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