USD/CAD Daily Outlook

Jul 21 2010

USD/CAD's rebound from 1.0275 should have completed at 1.0585 already and bias is flipped back to the downside for 1.0275 and below. As noted before, price actions from 1.0734 are viewed as sideway consolidation pattern, probably in form of triangle. Hence, in case of a deeper fall, we'd expect downside