Canadian Dollar Technical Outlook

Published July 31st, 2008 - 06:01 GMT
Al Bawaba
Al Bawaba

The USDCAD is preparing to break out from its 6 month triangle.  This bullish break will complete a 3 wave corrective advance from .9055. 



Objectives are in the 1.05-1.08 zone.  We’ll look to identify support and lessen risk as the advance matures.