The USDCAD short-term outlook is bullish with recent gains signalling scope for a stronger corrective bounce. The pair breached the 20-day EMA last week paving the way for move towards the 50-day EMA that intersects at 1.3263. A clear breach of the 50 EMA would strengthen a bullish case. On the downside, initial support lies at 1.3143, Thursday's intraday low. A move through this level would however undermine the recent recovery.

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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