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USD/CAD Classical Technical Report 05.16

USD/CAD Classical Technical Report 05.16

2012-05-16 06:56:00
Joel Kruger, Technical Strategist
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Daily_Classical_USDCAD_body_usd.png, USD/CAD Classical Technical Report 05.16

USD/CAD: The latest break and close back above 1.0050 reaffirms out core constructive outlook and should now open the door for some fresh upside over the coming weeks back towards 1.0600. In the interim however, look for short-term studies to unwind before any meaningful gains. Setbacks should now be very well supported above 0.9900.

--- Written by Joel Kruger, Technical Currency Strategist

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

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