The Canadian Dollar is down greater than 1.4% towards the US Dollar for the reason that October lows in USD/CAD with the latest b
The Canadian Dollar is down greater than 1.4% towards the US Dollar for the reason that October lows in USD/CAD with the latest breakout taking worth into the primary main resistance hurdle this week. These are the up to date targets and invalidation ranges that matter on the USD/CAD worth charts. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Sterling worth setup and extra.
New to Forex Buying and selling? Get began with this Free Beginners Guide
Canadian Greenback Worth Chart – USD/CAD Each day
Chart Ready by Michael Boutros, Technical Strategist; USD/CAD on Tradingview
Technical Outlook: In my newest Canadian Dollar Price Outlook we famous that the, “USD/CAD restoration is testing downtrend resistance right here leaves the fast long-bias weak into the beginning of the month whereas under this slope,” (~1.3180). Worth held under the median-line till late-last week with a pointy breakout in USD/CAD now testing Fibonacci resistance on the 61.8% retracement of the September decline at 1.3252– searching for a response up right here.
Canadian Greenback Worth Chart – USD/CAD 120min
Notes: A more in-depth have a look at Loonie worth motion reveals the USD/CAD breakout buying and selling throughout the confines of an ascending pitchfork formation extending off the October / November lows. Preliminary resistance stands at 1.3252 backed by 1.3281– searching for attainable…