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Commerzbank: USD/CAD to bounce higher

Strategists at Commerzbank expect USD/CAD to retest the 200- and 55-day MA and the May lows at 1.0769/1.0821. However, this area could repel the bullish attack. 

USD/CAD remains supported by the July low at 1.0622. This level is a part of the 1.0631/1.0568 support area (2012-14 uptrend line, 61.8% Fibonacci retracement and the July and August 2013 highs).

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