HomeContributorsTechnical AnalysisUSDCAD Outlook Remains Higher In The Short Term

USDCAD Outlook Remains Higher In The Short Term

USDCAD remains biased to the upside on further recovery pressure in the short term. Support lies at the 1.3150 level where a break will aim at the 1.3100 level. Further down, support comes in at the 1.3050 level where a break lower may occur. This if seen will trigger further weakness towards the 1.3000 level. Conversely, resistance stands at the 1.3200 level where a break will target the 1.3250 level. Further up, resistance resides at the 1.3300 level and then the 1.3350 level. All in all, USDCAD looks to weaken further on further strength.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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