USDCAD: Sees Further Bullish Momentum.

February 21, 2013 in Forex Analysis

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USDCAD: With the pair on the verge of recapturing the 1.0200 level, we could see further price extension. This could target the 1.0250 level where a violation will aim at the 1.0300 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.0150 level where a break if seen will target the 1.0099 level followed by the 1.0000 level. Further down, support stands at the 0.9956/32 levels. All in all, USDCAD remains biased to the upside medium term on further upside offensive.

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