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USD/CAD close to visiting resistance

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Alexander Londono
802
Alexander Londono  

The USD/CAD keeps its bullish trend, the next resistance may be the 1.3458 level and from there the price may try to stall or even break to the downside, but if oil keeps dropping, then we may see a breakout of that level. A breakdown of the bullish trendline may indicate a change in direction, but there are no important supports until the 1.2840 area.

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Alexander Londono
802
Alexander Londono  

The USDCAD is going sideways and it now depends on oil, if oil keeps dropping, then the pair may try higher highs.

Alexander Londono
802
Alexander Londono  

Nice rally on the USDCAD to the 1.3522 level. The bullish momentum seems to stay in place, but the 1.3458 could act as support in case of a pullback.

myname
3232
myname  

CAD is falling along with oil. No end at sight

Mawreen Lawson
460
Mawreen Lawson  

The pair reached 1.4000 and bounced off that resistance but it's probably just a temporary retracement,

Ari Goldman
651
Ari Goldman  

Yes, thank you for sharing.

Alexander Londono
802
Alexander Londono  

The USDCAD pulls back to the downside, but the bullish trend is still in place. The rally on oil is helping the CAD, it may try to go and visit the 1.3800 level.

Mawreen Lawson
460
Mawreen Lawson  

It bounced off the support at 1.3820 and it might reach 1.3940, but I doubt consolidation will end before the end of the holidays.

Ari Goldman
651
Ari Goldman  

Expecting a move up.

Mawreen Lawson
460
Mawreen Lawson  

I agree. Consolidation still continues, but the overall bullish trend is still valid.

Alexander Londono
802
Alexander Londono  

Great rally on the USDCAD caused by the drop on oil. The 1.4100 may act as a temporary resistance, because if oil keeps dropping, there is no stopping this pair on its rally.