The Canadian Dollar rallied greater than 0.6% in opposition to the US Dollar this week with USD/CAD testing a key near-term assis
The Canadian Dollar rallied greater than 0.6% in opposition to the US Dollar this week with USD/CAD testing a key near-term assist barrier on Friday. These are the up to date targets and invalidation ranges that matter on the USD/CAD value charts heading into subsequent week. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this gold price setup and extra.
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Canadian Greenback Value Chart – USD/CAD Every day
Chart Ready by Michael Boutros, Technical Strategist; USD/CAD on Tradingview
Technical Outlook: The Canadian Greenback is approaching a key stage with USD/CAD buying and selling simply above the 61.8% retracement of the July advance at 1.3155 with the median-line of the broader descending pitchfork formation resting simply decrease. A break / shut under this zone is required to mark resumption with such a situation focusing on the October low-day shut at 1.3086. Month-to-month open resistance stands at 1.3270 with an in depth above the 75% parallel wanted to shift the main focus again to the long-side….