USDCAD: Bearish, Sets Up To Resume Weakness.
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
USDCAD: A re-take of the 1.0244 level is now underway following a sell off the past week. Below the mentioned level will open the door for more downside towards the 1.0200 level. A turn below here will shift risk to the downside towards the 1.0136 level and then the 1.0100 level. Further down, support comes in at the 1.0050 level and then the 1.0000 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1.0444 level followed by the 1.0500 level and then the 0.608 level. This if seen will call for a run at the 1.0650 level. All in all, USDCAD continues to face its downside pressure bias having sold off the past week.