Main Scenario: General expectation below 1.3145 level NEGATIVE!
Target Expectation: 1,3012 – 1,2955 – 1,2917
Considerations Supporting The Scenario: In addition to the downward trend, the Relative Vigor Index indicator supported the trend expectation regarding the negative signal outlook.
Alternative Scenario: By moving up to 1.3145 level, POSITIVE!
Alternative Target Expectation: 1,3234 – 1,3290 – 1,3343
Critical News of the Day: Core Retail data from Canada, Prelim UoM Consumer Sentiment data from USA and FOMC members Bullard and Rosengren speeches can be followed for USDCAD short term expectations.