USDCAD – Breaking out

USDCAD – Breaking out

USDCAD5JULY

USD is Heading North Against the Loonie

In the last few hours the USD has broken out of its short term down trend and looks to be heading north again. RSI is above 50 and the MACD has just turned up, both indicating that there is strength in the USD. Further confirmation of this move, will come with a close above 1.0940.

First resistance level and target is at 1.10585, while the current support level is at 1.08076

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