An Asian setback yesterday proved temporary. European buying regained that 1 big figure decline to take USDCAD back to retest the 100 day mvg avg. Minor movement does not provide strong signals for sentiment but buying dips has been the scenario over the last 4 days we look for than scenario to be maintained with a break of the key average leading to upside acceleration.
Setbacks should be contained and attract near 1.2985 with upside potential to 1.3052, 1.3082 or even 1.3121.
Only below 1.2953 is negative