USD/CAD: Levels, Ranges, Targets

 
USD/CAD

Solid and immediate supports exist below for USD/CAD 1.2854 and 1.2840. Further 1.2826 and 1.2810. The bottom today is located at 1.2854. USD/CAD achieves 1.2854 by breaks at 1.2886 and 1.2870. Overall USD/CAD is built upon a base at 1.2303.
USD/CAD targets are located at 1.2946 and 1.2949.
Most vital breaks in USD/CAD are located at 1.3032, 1.3043 and 1.2983. To break 1.2983 USD/CAD must hold above 1.2901. Breaks above 1.2983, 1.3032 and 1.3043 targets next 1.3066 and 1.3102. Not only is 1.3066 and 1.3102 vital as targets but breaks above would sustain a longer lasting uptrend.
What holds USD/CAD from achieving upper prices is currently 1.3186. A break of 1.3186 opens the flood gates to 1.3481 as the path is wide open. The point to watch all week then is 1.3186. Overall USD/CAD price is extremely low and becomes lower upon any drops.

 

Brian Twomey, Inside the Currency Market, Brian Twomey, btwomey.com

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