USD/CAD Classical Technical Report 02.24
USD/CAD: Our constructive outlook remains intact despite the latest interday pullback with the market largely still consolidating around parity ahead of what we believe will be an eventual retest of the key October highs by 1.0660. From here, look for the latest pullbacks to be very well supported above 0.9900 on a weekly close basis, while ultimately, only a weekly close below 0.9900 would give reason for concern. Meanwhile, a daily close back above 1.0035 confirms and should accelerate gains.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email firstname.lastname@example.org. Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.