USD Trading Outlook (28-09-2015)

Medium Term Strategy: Forex Pair of the day
USD/CAD – further advance
The pair remains on the upside and should post further advance as it is still supported by the moving averages. Moreover, the daily RSI stands above its neutrality area. Further advance is therefore likely with a first target set at 1.3450 (horizontal resistance). A break above this threshold would open the way to further bounce towards 1.40 (May 2004 top). A third target is set at the previous overlap from january 2000 at 1.4320. Only a break below the strong horizontal support at 1.28 would turn the outlook to bearish with a first alternative target set at 1.2560 and a second one set at the horizontal support at 1.24.
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