USD/CAD Short term Outlook

FX:USDCAD   U.S. Dollar / Canadian Dollar
136 0
USD/CAD has slightly recovered till 1.2130 and currently trading around 1.2090. Intraday bullishness can be seen if it closes above 1.2130 (200 day 15 min MA).

Any indicative break above would extend gains till 1.2180/1.2205.

On the downside minor support is around 1.2080 and break below will drag the pair further down till 1.2050/1.1995.

Indicator (15 min chart)

CCI (50) - Sell

CCI (14) – Sell

Ichimoku- Sell

It is good to sell on rallies around 1.2100 for the target of 1.1995 with stop around 1.2135.
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