A sad week for Loonie, BOC maintained their dovish tone and low CPI damaged to Loonie. USDCAD saved from the support 1.2862 and bounced agressively to 1.3200 level.
USDCAD now stops at Kumo cloud;however, I believe It couldn't hold USDCAD below it.
While RSI indicator show that it moved above the resistance I show on the chart, more rally is supported to overbought zone.
I maintain bullish bias for USDCAD.
The first target I am pricing to is 1.3250
A strong support likely is at 1.3350
USDCAD now stops at Kumo cloud;however, I believe It couldn't hold USDCAD below it.
While RSI indicator show that it moved above the resistance I show on the chart, more rally is supported to overbought zone.
I maintain bullish bias for USDCAD.
The first target I am pricing to is 1.3250
A strong support likely is at 1.3350