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    USD/CAD: @ bottom of range

       
    USD/CAD has been consolidating in a sideways pattern since it rose up to resistance at 1.25 at the end of May. From then it has been oscillating in a range between 1.2545 and 1.2370.

    It has now fallen to the range lows, after strong employment data supported the Canadian dollar earlier this week, however, a break below the 1.2366 lows – including a 20-point margin for confirmation – so below 1.2346, would probably lead to a move lower to 1.2300.

    Alternatively a breakout above the 1.2562 highs could lead to a move up to the R1 Monthly Pivot at 1.2675.
    USDCAD09

       
    USD/CAD has been consolidating in a sideways pattern since it rose up to resistance at 1.25 at the end of May. From then it has been oscillating in a range between 1.2545 and 1.2370.

    It has now fallen to the range lows, after strong employment data supported the Canadian dollar earlier this week, however, a break below the 1.2366 lows – including a 20-point margin for confirmation – so below 1.2346, would probably lead to a move lower to 1.2300.

    Alternatively a breakout above the 1.2562 highs could lead to a move up to the R1 Monthly Pivot at 1.2675.
    USDCAD09


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