USD/CAD: Beat Resistance At 1.1220/30
Jason Sen | Oct 15, 2014 02:24AM ET
USDCAD beat resistance at 1.1220/30 as expected in the 3 month bull trend and hit our target of 1.1333. So far we have topped almost exactly here at 1.1343 but the outlook remains positive. A break above 1.1350 signal a move towards 1.1415/20 and perhaps as far as 1.1435/40. Any further gains could reach 1.1505/10 then 1.1540/45 this week.
Immediate support at 1.1279/69 could hold the downside but below here look for a buying opportunity at 1.1205/1.1195, with stops below 1.1160.
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