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Oct 25 - 03:55 AM

USD/CAD - Overbought But Still Heading Higher

By Peter Stoneham  —  Oct 25 - 02:00 AM
  • USD/CAD still overbought and still heading higher

  • New trend high of 1.3868 recorded Thursday

  • Our 1.3830 offer filled on-route to the new high

  • We are positioned counter trend but with a tight stop

  • Daily RSI is now bumping along sideways with a 71 reading

  • Positive fourteen day momentum has faded slightly

  • Trend tracking support from the 10DMA is at 1.3811

  • Minimum correction of 1.3420-1.3868 rally is at 1.3762

  • USD/CAD Trading Page TGM2345

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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