USD/CAD: Outlook Is Positive
Jason Sen | Oct 21, 2014 01:28AM ET
USD/CAD just drifting sideways for a couple of days. The outlook is positive but the pair must sustain a break above key resistance at 1.1270/80 to reach 1.1315/20. If we continue higher look for a retest of last week's high at 1.1380/85. Exit longs here & try shorts here with stops above 1.1400.
Back below 1.1265 however risks a slide to good support at 1.1205/1195 for an excellent buying opportunity. Try longs with stops below 1.1175. Try longs again at short term trend line support at 1.1155/50, with stops below 1.1130.
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