The USD Index is moving up after a nice bounce on Friday from our first highlighted technical support near 96.80. That said, more USD strength will likely follow this week across the board, but we would love to see an hourly trendline resistance broken to confirm the bullish price action towards 98 and even higher.
USD Index 30min Elliott Wave Analysis
USDCAD is sideways at the moment, but we see a continuation pattern unfolding in wave 4). It can be a triangle with subwave D in play, so be aware of a break above 1.2540 after wave E that will likely complete the path in the next 24 hours.
USDCAD 1h Elliott Wave Analysis
