USDCAD Chart Technical Outlook dips could find buyers in a broadly bullish bias, USD/CAD printed higher lows and highs since mid-July, corrected lower this week to test a previously broken resistance-turned-support, and bounced higher.
Technical indicators and retailers’ sentiment support further strength.
Today’s events are the US PPI and Consumer Sentiment data. Soft readings imply that correction is still in progress for an ABC pattern, while strong data can push the pair higher.
I expect dips to find buyers to resume the broad bullish bias.
Resistances: 1.3500, 1.3550
Supports: 1.3370, 1.3260
