USDCAD: The pair declined on Tuesday after triggering a corrective pullback and leaving USDCAD outlook lower towards 1.3446/35 zone risk. On the downside, support lies at the 1.3250 level followed by the 1.3200 level. Further down, support stands at the 1.3150 level and then the 1.3100 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 1.3350 level where a break will target the 1.3400 level. Further out, resistance comes in at the 1.3450 level where price hesitation may occur. But if further recovery is seen, the pair could strengthen further towards the 1.3500 level. All in all, the current price action has left USDCAD outlook lower towards 1.3446/24 zone and possibly below that area.
25th April 2016
USDCAD Outlook Lower Towards 1.3446/24 Zone
