USDCAD edged to new weekly lows Thursday. The pullback however is likely a correction. A bullish outlook remains in place and this follows the recent break higher on Sep 21 that confirmed a short-term bullish cycle. Furthermore, the recent break of 1.3259, Sep 9 high, confirmed a clear bullish price sequence of higher highs and higher lows. On the downside, key support is seen at 1.3247, trendline support drawn off the Sep 1 low.

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

Bullet Foreign Exchange Technical Analysis Markets Foreign Exchange News

Edward Hardy

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

Bullet Foreign Exchange Technical Analysis Markets Foreign Exchange News

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TECHS: Holds Above Trendline Support