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USD/CAD Classical Technical Report 12.14

USD/CAD Classical Technical Report 12.14

2011-12-14 06:57:00
Joel Kruger, Technical Strategist
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Daily_Classical_USDCAD_body_cad2.png, USD/CAD Classical Technical Report 12.14

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. Last Thursday’s daily close back above 1.0225 confirms and should now 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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