Technical outlook and trade setups:
1. The USD/CAD is potentially targeting 1.0950/60 levels before a meaningful retracement can take place. Please note that USD/CAD has already resumed the uptrend after bouncing off the support trend line around 1.0600 levels.
2. Support is seen at 1.0800, followed by 1.0700/20, 1.6040 and lower while resistance is seen at 1.0950/60, followed by 1.1050 and higher respectively.
3. The structure indicates that USD/CAD is buy on dips for now. 1.0800 is the level of interest to go long.
Trading recommendations:
Remain flat for now, look to buy lower.
Good luck!
