- USD/CAD daily price action rages within the cloud, Trend remains on the upside despite the recent failure above 1.3218
- Canadian GDP data matched forecasts, while both US Personal Income and Spending have disappointed expectations
- USD/CAD higher post data, is currently trading at 1.3189, with strong support by Daily Tenkan at 1.3108
- A daily close below cloud base, which comes in at 1.3139 could buoy bears
- Resistance on the upside is seen at 1.3213 (cloud top) ahead of 1.3237 (Daily high Oct 29)
- Stochs on the verge of a bullish crossover, but remain near overbought, so caution advised
- A break above cloud top at 1.3213 could see the pair at 1.33 levels
Resistance Levels:
R1: 1.3213 (cloud top)
R2: 1.3237 (Daily high Oct 29)
R3: 1.3281 (Daily High Oct 28)
Support Levels:
S1: 1.3145 (Kijun-Sen)
S2: 1.3139 (Daily Cloud Base)
S3: 1.3108 (Tenkan-Sen)


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