USDCAD bull trend extension bias
· Further erratic price action over the past 24-36 hours to highlight similarly erratic activity over the past 1-2 weeks, but again, as we had expected, resolving with a more positive bias.
· The push back through resistance at 1.1030 has now pushed up above 1.10763, to leave risk to the cycle high at 1.1100.
· Through 1.1100 aims for 1.1155/70 and maybe even the secular high at 1.1280.
WHAT CHANGES THIS?
· Below 1.0975 eases bull risks; through 1.0887 signals a neutral tone, only shifting negative below 1.0811.
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4 Hour USDCAD Chart
Daily USDCAD Chart