Technical & Trade View


1.3330 Target Achieved, New Pattern Emerging

Bias: Bullish Above Bearish below 1.3410

1.3330 Target Achieved, New Pattern Emerging


Primary resistance is at 1.3410

Primary pattern objective is 1.3165

Acceptance below 1.3230 next pattern confirmation

Acceptance above 1.3430 opens a test of 1.35

20 Day VWAP bearish , 5 Day VWAP bearish


According to Scotia Bank 'positioning (among speculative, leveraged accounts and real money investors) could help propel the CAD higher. Combined CFTC positioning data shows a relatively large net CAD short has been maintained among these market participants in recent weeks and the CAD’s rebound risks forcing these accounts to cover, adding further fuel to the CAD rebound’