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USD/CAD negative range theme aims lower - MarketChartist

FXStreet (Łódź) - Steve Miley, FX analyst at MarketChartist, sees USD/CAD's negative range tone for 1.0857/45 with a risk of pointing lower to 1.0795.

Key quotes

"The Thursday push below supports at 1.0905/00 was reinforced by the erratic break below 1.0887 for a shift back to a range theme into the 2nd half of August."

"We now see a range theme defined by 1.0795 below and the 1.0985 cycle high above."

"Early this week, we see the bias back lower towards 1.0857, maybe to 1.0845."

"Upside: Above 1.0985 aims higher for 1.1000/05 and 1.1055 and 1.1080."

"Downside: Below 1.0795 sees risk lower for 1.0733 and 1.0713/10."

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