The USDCAD pair sits on an multiweek support-resistance.
Also, the uptrendline on daily chart is just broken on a closing basis, however the horizontal level seems intact.
The CAD strengthening was seemingly related to crude oil spike from Iraq crisis and may not last.
So USDCAD is expected to bounce from here towards 1.1 level again.
In case the crude rises further and CAD strenghthens, next support would only be at 1.0-0.8
The thursday NFP if positive would boost USD and cause USDCAD bounce.
T…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –