USDCAD: Recovers Higher, Faces Further Upside Risk
September 8, 2014 2:37 pm
USDCAD: With the pair remaining on the offensive, it faces further upside threats. This leaves the risk of a return to the 1.0942 level on the cards. Further out, resistance is seen at the 1.1000 level followed by the 1.1050 level. Above here if seen will aim at the 1.1100 level where a reversal of roles is expected to occur and turn it lower. But if further recovery is triggered resistance comes in at the 1.1150 level. On the downside, support lies at the 1.0850 level followed by the 1.0800 level and then the 1.0750 level. A turn below here will create scope for a move lower towards the 1.0700 level and then the 1.0650 level. All in all, USDCAD continues to face further upside risk.
USDCAD: With the pair remaining on the offensive, it faces further upside threats. This leaves the risk of a return to the 1.0942 level on the cards. Further out, resistance is seen at the 1.1000 level followed by the 1.1050 level. Above here if seen will aim at the 1.1100 level where a reversal of roles is expected to occur and turn it lower. But if further recovery is triggered resistance comes in at the 1.1150 level. On the downside, support lies at the 1.0850 level followed by the 1.0800 level and then the 1.0750 level. A turn below here will create scope for a move lower towards the 1.0700 level and then the 1.0650 level. All in all, USDCAD continues to face further upside risk.
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