SimonDutton

Possible Bullish Move Off Support

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
It looks like we could see a potential bullish move off the 1.24321(approx) level.

My reasoning for this is based on the current trend of higher highs and higher lows. You can see the support levels are pretty much at the same levels as the fib retracement of the latest big downtrend. The other things I like about this setup is being right of the lower Bband aswell as oversold on the Stochastic .

There is A Bank of Canada base rate announcement on the 18th so keep an eye out for that.

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