USD/CAD Surge Hits 1.1345
Steve Miley | Oct 15, 2014 02:26AM ET
USDCAD bull trend reinforced through 1.1270/80
We have stated in recent client reports that “the risk through midweek is now still higher to aim for back to the recent high at 1.1270, set in respect of the cycle high for this year, 1.1280” and the surge already through here has allowed for our next target at 1.1345 to be hit!.
The rebound last week from our flagged neckline support, now 1.1100, leaves risk higher for 1.1395 next and maybe to 1.1435 and 1.1475 targets.
WHAT CHANGES THIS?
Below 1.1159 eases bull pressures, through 1.1100 signals a neutral tone, only shifting negative below 1.1070.
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