USDCAD – 6 Year highs – still climbing
17th July 2015
The market failed to maintain Wednesday’s upside momentum yesterday. Instead some consolidation was seen was overbought extremes unwound at 6 year highs. But the setback was, as expected, minor and USDCAD soon found fresh buyers – posting a 2nd up day in a row. The limited nature of corrective moves highlights that the underlying tone remains positive with scope in the coming days through 1.3013 to test the 2009 peak at 1.3063.
Only below 1.2889 negates this view.
#AddingValue
