USD/CAD testing support
USD/CAD slipped back to 1.0155 (monthly low) on Thursday following the yesterday’s attempt to rebound capped at 1.0215.
According to analysts at TD Securities, weakness of the past couple of weeks in USD/CAD does not reject their broader positive view on the pair. Strategists believe that a sustained break below 1.0170 (61.8% Fibo) could open the way to 1.0110 (78.6% Fibo). However, for the moment they don’t see enough bearish power for such break. Note that there is a MACD divergence on H4 chart.
Pay attention to a bunch of Canadian and US data at 12:30 GMT.
Chart. H4 USD/CAD