Canadian Dollar Technical Outlook

Published May 23rd, 2008 - 06:33 GMT
Al Bawaba
Al Bawaba

We should know very soon whether or not we are completely wrong in our assessment of the USDCAD.



We’ve been bulls and waiting for a buying opportunity.  We were given that opportunity as the USDCAD dropped into support from the 78.6% of .9710-1.0324 at .9841.  The pair must remain above .9710 for us to remain bulls.

STRATEGY: Bullish, against .9710, target above 1.0324