Forextuitions

USDCAD Technical Analysis

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD the pair has been bounced with the bullish trend , Currently the pair trading below the Daily Resistance level @1.3379 with the lastest 4hr resistance @1.3390, The pair holding a bullish pattern , we can see a short term sell before rally to test support @ 1.3320/1.3300 , However we keep a bullish bias (targeting USDCAD 1.36 by year-end) in light of longer-lived negative factors persisting, as the housing market remains a drag on construction, and household consumption growth is limited by debt service ratios reaching a record high.”

keep eyeing on Fundamental data CPI and Core Retail Sales Data.

Short term Sell
@1.3365/75

Tgt: 1.3315
Sl: 1.3399

Good Luck !


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