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USDCAD Bull Threat above 1.1468 Peak; through mid-November for 1.1655 – MarketChartist

FXStreet (Barcelona) - Steve Miley of MarketChartist maintains a bullish view for USD/CAD, targeting 1.1655 levels through November.

Key Quotes

“We have stated in our recent client reports that “we continue to see better support on a dip to 1.1266/62” and the bounce ahead of here maintains our bull view for mid-November.”

“Whilst above here, we see bias for a bounce to the setback range into midweek, for 1.1415/20 and 1.1450.”

“Upside risk above here and the recent cycle peak at 1.1468 is to a Fibo extension level at 1.1495/ psychological 1.1500.”

“November overshoot threat is to 1.1655, the 61.8% retrace of the entire 2009-2011 bear market.”

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