USDCAD TECHNICAL ANALYSIS SHORT TERM VIEW
It is running in positive trend and it is running in wave 3 so it can jump towards 1.3982 levels non stop .Important support1.32323 to 1.35208 level as shown in graph. It is on positive side as running above support and can rally towards 1.3982 levels .Intraday or positional buying trades can be taken with stop loss 1.29950 for upside direction.Usdcad can sharply jump upwards to achieve our targets.
QUICK FUNDAMENTAL LOOK
It would take a move above the daily MAs and the falling 100 hour MA to tilt the technical bias back to the upside. It is the risk for the sellers looking for more downside momentum.Governor Macklem and the Governing Council have hinted at the possibility of a rate hike in the near future, as per the minutes of the April meeting.
