(09 OCTOBER 2017)USD / CAD:Ready for a bullish breakout.

(09 OCTOBER 2017)USD / CAD:Ready for a bullish breakout.

9 October 2017, 13:46
Jiming Huang
0
19

cad


Ready for a bullish breakout.

(By Yann Quelenn)

• USD/CAD continues to move higher within 

uptrend channel. Strong support is located at a 

distance 1.2062 (08/09/2017 low). Hourly support 

lies at 1.2331 (26/09/2017 high). Resistance is 

given at 1.2663 (31/08/2017 high). Expected to 

show continued short-term bullish pressures. 

• In the longer term, the pair has broken longterm support that can be found at 1.2461 

(16/03/2015 low). Strong resistance is given at 

1.4690 (22/01/2016 high). The pair is likely to 

head further lower.

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