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USDCAD: Bullish, Aims At The 1.0941 Level

Tuesday, June 3, 2014 3:07

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USDCAD: With a rally seeing the pair closing higher at 1.0902 level on Monday and a follow- through underway, further upside risk is likely. This development now leaves it targeting the 1.0941 level followed by the 1.1000 level and then the 1.1069 level. A cut through here will turn focus to the 1.1100 level. Its daily RSI is bullish and pointing higher. On the downside, support comes in at the 1.0821 level where a violation aim at the 1.0750 level and then the 1.0700 level. Further down, support is located at the 1.0650 level where a break if seen paving the way for a run at the 1.0600 level. All in all, USDCAD faces further recovery risk.

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Source: http://blog.fxtechstrategy.com/usdcad-bullish-aims-at-the-1-0941-level/

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