USDCAD - Support of key average points higher
|Against a background of bullish signals for sentiment for this week yesterday began with selling pressure. That decline took USDCAD back to the 13 day mvg avg but, importantly, that point was not broken. The resulting rebound was not extensive but enough to create a mildly positive bias. So with these factors as a backdrop, this morning’s call is Buy at 1.2935 but leaving room to also buy a 1.2900 dip, yesterday's low. The risk is 1.2873, Thursday’s open, with upside targets of 1.2968, yesterday's top, 1.2985 and last Wednesday’s 1.3019 opening price.
Average Supports
Interested in USDCAD technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.