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USDCAD Poised at Key Support into Data and #FOMC Minutes

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USDCAD Poised at Key Support into Data and #FOMC Minutes

A further correction Tuesday, to reinforce the previous reversal through the trend line support from late 2014, to break below the 2015 neckline support. But still holding above the 1.2352 February setback low and the January chart support at 1.2313.

We look for these lower chart levels to hold for a rebound back higher and for a bullish theme to resurface.

For Today: We see an upside bias for 1.2491; break here aims for 1.2538.

A taster of the report above. To view the full USDCAD report with screencasts, levels and more, click here
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4 Hour USDCAD Chart

b2ap3_thumbnail_USDCAD2_20150218-062125_1.png

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Tagged in: CAD FOMC Forex FX USDCAD

Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

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