Commentary: Having broken the 61.8% Fobo of the major 1.0900-9050 bear wave USDCAD appears on its way to a test of 1.0500 as longs continue to reassert control after a prolonged period of weakness. Only a break below the 1.0168 Fibo support would signal the end of the uptrend.
Strategy: Long against 1.0150 targeting 1.0500
Al Bawaba
