The Canadian dollar against the US Dollar has maintained a
gradual uptrend as the pair continues to trade above and maintained support at the
moving averages 20, 34 and 100 while RSI 14 week period remain in the bullish
territory.
Intermediate resistance stands at 1.3590 with resistance at
support 1.2961
As long as price action remains above the moving average,
the trend is said to be in an uptrend.
Strategy:
Long with stoploss placed at 1.3350 while a confirmation of
bullish resumption would be seen when weekly candle closes above 1.3590 with
target at 1.4000
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