FXTechstrategy
Short

USDCAD Retains Bull Pressure, Price Extension Eyes 1.3064/99

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD retains bull pressure as it looks for further corrective recovery gain in the days ahead. Support lies at the 1.3000 level where a break will aim at the 1.2950 level. Further down, support comes in at the 1.2900 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.2850 level. Conversely, resistance lies at the 1.3100 level where a violation will target the 1.3`50 level. Further up, resistance resides at the 1.3200 level and then the 1.3250 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, USDCAD looks to strengthen further on correction.
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