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USD/CAD Classical Technical Report 12.08

USD/CAD Classical Technical Report 12.08

2011-12-08 06:32:00
Joel Kruger, Technical Strategist
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Daily_Classical_USDCAD_body_cad2.png, USD/CAD Classical Technical Report 12.08

USD/CAD: Despite the recent pullbacks, our constructive outlook remains intact with the market focused on a retest of the key October highs by 1.0660. From here, look for any interday pullbacks to be very well supported above 1.0000 on a daily close basis, in favor of an eventual break and fresh upside extension beyond 1.0660. A daily close back above 1.0225 confirms and should accelerate towards our 1.0660 objective.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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