USDCAD: On Bullish Offensive, Aims At The 1.1200 Level
January 23, 2014 1:29 pm
USDCAD: The pair is now seen following through higher on the back of its Wednesday rally during Thursday trading session. This development has created scope for more strength towards the 1.1200 level where a breach if seen will trigger further gain towards the 1.1250 level. Further out, resistance comes in at the 1.1300 level where a violation will aim at the 1.1350 level and then the 1.1400 level. Its daily RSI is bullish and pointing higher suggesting further upside. On the other hand, support comes at the 1.0900 level, its psycho level o any pullback followed by the 1.0842 level where a violation will set the stage for a run at the 1.0736 level, representing its Dec 20 2013 high. Additionally, downside objective resides at the 1.0651 level, its Jan 06’2014 low. All in all, USDCAD continues to face further upside threats in the long term.
USDCAD: The pair is now seen following through higher on the back of its Wednesday rally during Thursday trading session. This development has created scope for more strength towards the 1.1200 level where a breach if seen will trigger further gain towards the 1.1250 level. Further out, resistance comes in at the 1.1300 level where a violation will aim at the 1.1350 level and then the 1.1400 level. Its daily RSI is bullish and pointing higher suggesting further upside. On the other hand, support comes at the 1.0900 level, its psycho level o any pullback followed by the 1.0842 level where a violation will set the stage for a run at the 1.0736 level, representing its Dec 20 2013 high. Additionally, downside objective resides at the 1.0651 level, its Jan 06’2014 low. All in all, USDCAD continues to face further upside threats in the long term.
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