FX Weekly (10 Sep ’17)

USDCAD remains under pressureInvestors remain Negative as fresh sellers push prices to the 1.2050, (50%) Fibonacci retracement of the 2011-2016 rally.

Weakening studies and bearish background readings highlight further downside risks towards the 1.1600 year low of January 2015.

An unexpected close above 1.2410/60 is needed to prompt an Upgrade to Neutral.

 

 

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