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USDCAD: Halts Weakness, Looks To Correct Higher.

USDCAD: Having USDCAD halted its weakness with a rejection candle on Wednesday, it now looks to recover higher. On the downside, support lies at the 1.1943 level where a violation will be followed by followed by the 1.1900 level. Further down, support resides at the 1.1850 level and then the 1.1800 level. On the upside, resistance is seen at the 1.2072 level followed by the 1.2150 level. Further out, resistance comes in at the 1.2200 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.2250 level. All in all, USDCAD faces recovery threats.

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