USD/CAD: Oscillating Around The 200-Day Average
USD/CAD's DeMark™ exhaustion buy signal remains active while price still oscillates around its 200-day average. A sustained confirmation above 1.0080 will signal a potential upside recovery.
Such a scenario would target next resistance at 1.0160, then 1.0250 and resume the larger cycle recovery higher into 1.0424 (14th December high).
Only a sustained break back beneath 0.9843 (03rd Jan low) would resume the multi-month downtrend into next support at 0.9726.
EUR/CAD, which tends to share a positive correlation with EUR/USD, is holding steady after the recent unwinding from oversold conditions. A sustained downside resolution beneath support at 1.2894 (14th March low) would target 1.2760 (10th Jan 2010).