USDCAD: Having printed a rejection candle ahead of its key resistance located at 1.3435/56 zone, USDCAD ended the week slightly higher. This leaves risk of a pullback in the new week on continued price failure. Its key resistance standing at the 1.3435/56 levels comes in as the next upside target. Further out, resistance comes in at the 1.3500 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.3550 level. Its weekly RSI is bullish and pointing higher suggesting further weakness. Conversely, support lies at the 1.3300 level where a violation will target the 1.3250 level. Further down, support resides at the 1.3200 level and then the 1.3150 level. All in all, USDCAD ended the week slightly higher below the 1.3435/56 zone leaving pullback risk on the cards.
25th April 2016
USDCAD Ended The Week Slightly Higher
