USDCAD aims higher for Fibo targets at 1.1315 & 1.1425
A surging rally Wednesday after the bullish outside pattern on Tuesday to soar not only above a key chart/ trend line barrier (1.1160), but to also hit a new cycle high through key long term retrace resistance at 1.1240 (50% retrace of the 2009-11 sell off).
· This now opens upside risk to Fibo targets at 1.1315 and maybe up to at 1.1425.
· The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.
WHAT CHANGES THIS?
· Below 1.1220 eases bull risks; through 1.1120 signals a neutral tone, only shifting negative below 1.1025.
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