USD/CAD Halts Weakness, Risk Turns To 1.3352 Level
FXTechstrategy Team | Aug 28, 2015 08:56AM ET
USD/CAD: With USD/CAD seen halting its corrective weakness and turning higher during Friday trading session, risk of more strength is likely. This development leaves the pair targeting its key year-to-date resistance located at 1.3352 level. Further out, resistance resides at the 1.3400 level, where a break will target the 1.3450 level. Above here will expose the 1.3500 level, where a turn lower may occur. Its daily RSI is has turned higher, suggesting further strength. On the downside, support lies at the 1.3200 level followed by the 1.3150 level. Further down, support resides at the 1.3100 level and then the 1.3050 level. All in all, USD/CAD remains biased to the upside in the medium term.
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