USDCAD short-term conditions remain bullish and the pair is trading higher. Attention is on 1.3523, a Fibonacci retracement point - a level pierced, but yet to be broken. Clearance of this level would strengthen current bullish conditions and pave the way for a climb towards 1.3585, the Jun 1 high. Initial firm support to watch is 1.3351, the 20-day EMA. A short-term pullback would be considered corrective and this would allow an overbought condition to unwind.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

Edward Hardy

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

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