Canadian dollar is suppressed by the pumping price of crude oil. Additionally, the governor Poloz indicated he was in no rush to resume monetary tightening, saying that while interest rates needed to move up into a neutral range over time the path back was now “highly uncertain.” His tone is more dovish than market expects, which suppresses Canadian dollar. It's supported by 61.8% retracement of 1.3236 to 1.3112 at 1.3160 and suppressed at 1.3175, 50% of the Fib. RSI indicators are bullish predicting the further rise should be seen to 23.6% retracement at 1.3205 and 1.3236 next. Downside, though, it'll turn focus on 1.3140 and 1.3120 as the support.
The target is 1.3236.
Turning point: 1.3160.
Above 1.3160, bullish , target price is 1.3205,then 1.3236.
Under 1.3160, bearish , target price is set at 1.3120.
RSI technical indicators are temperately bullish and have a further uptrend.
Prior Strategy:
The target is 1.3236.
Turning point: 1.3160.
Above 1.3160, bullish , target price is 1.3205,then 1.3236.
Under 1.3160, bearish , target price is set at 1.3120.
RSI technical indicators are temperately bullish and have a further uptrend.
Prior Strategy:
