USD/CAD: daily update
USD/CAD approached today resistance at 1.0380 (23.6% Fibo of the advance from September to July). On the daily chart we see that the pair’s capped by the resistance line connecting July and August highs and supported by the support line linking May and July lows. The pair’s inside the daily Ichimoku Cloud and the medium term trend looks neutral for now.
A break above 1.0380 will bring the pair to 1.0420 and 1.0445 (August high). On the downside support is at 1.0310, 1.0287, 1.0275 and 1.0235.
Chart. Daily USD/CAD