alan3cA
Long

USDCAD - Bullish rally incomplete, 1.2670 targeted.

FX:USDCAD   U.S. Dollar / Canadian Dollar
Yesterday's bullish forecast was confirmed. Following Tuesday’s indecisive price action at oversold extremes, a more significant profit taking rally developed. The resulting improvement, the most positive of this month, took USDCAD to test the 13/100/20 day mvg avg area. That area held despite solid net gains but while that does introduce a strong note of caution, our intraday technical studies are positive. So, this morning’s call is a Buy at 1.2620 and also any 1.2595 dip. The stop is 1.2563 with upside targets of 1.2646, Asia’s high, 1.2670, the 13 day mvg avg , or even an overshoot to 1.2698, April 10th open.
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