USD/CAD: Wedge Breakout

 | Oct 17, 2016 08:53AM ET


Currently we are 1.3136 in a range and a breakout of a rising wedge. We are looking for an initial move to the 0.500 Fibo and then a continuation later to the 0.618 Fibo at 1.2990. The average daily true range (ATR) for the pair currently is 102 pips.