USDCAD bullish tone
· A rally and stall Thursday, but as we stated in our last report to our clients “corrective setbacks should look to hold above 1.0845, with a better support at 1.0795”.
· Whilst above even the higher level, we see early August bullish pressures intact from the push straight through 1.0890 that saw a bullish shift.
· We still aim higher and see upside risk to chart targets at 1.0960, 1.1005 and 1.1055.
WHAT CHANGES THIS?
· Below 1.0845 eases bull risks; through 1.0795 signals a neutral tone, only shifting negative below 1.0700.
Download our full report with latest screencast & levels here: http://members.marketchartist.com/Daily/USDCAD.pdf
4 Hour USDCAD Chart
Daily USDCAD Chart