USD/CAD is out of the range
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4H Chart
Daily Chart
USD/CAD managed to breakout of its tight range on Friday, reaching as high as 1.2177, and posted the highest daily close since mid-May, while the technical indicators are clearly bullish, which confirms the upside retracement outlook. In the meantime, our long position from 1.2060 mentioned last week has +100 pips in profit, while our stop remains at our entry. Any downside pressure this week is likely to remain short-lived above 1.21, while the final target for this trade remains at 1.22.
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 1.1944 | 1.2041 | 1.2100 | 1.2138 | 1.2197 | 1.2235 | 1.2332 |