USDCAD Eyes More Upside Pressure On Corrective Recovery

Mohammed Isah FXTechstrategy

USDCAD eyes more upside pressure on corrective recovery as it saw a rally on Thursday. Support comes in at the 1.3300 level where a break will aim at the 1.3250 level. Further down, support comes in at the 1.3200 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.3150 level. Conversely, resistance lies at the 1.3400 level where a violation will target the 1.3450 level. Further up, resistance resides at the 1.3500 level and then the 1.3550 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, USDCAD looks to strengthen further higher on more correction.

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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