Following yesterdays drop in the USDCAD on news from the BoC, a retracement can be expected of this move combined with a rejection off the USDCAD Range support and triangle at 1.24. Target initially 38.2 (1.24570) and 50% (1.24729) retracement levels.
Longer term I expect the USDCAD to break above the triangle at 1.2500 and the range at 1.2800 and head for the previous high at 1.3000.
Longer term I expect the USDCAD to break above the triangle at 1.2500 and the range at 1.2800 and head for the previous high at 1.3000.
