The Canadian Dollar has lined all of final week’s vary with the latest breakout in USD/CAD pulling again at the moment from near-
The Canadian Dollar has lined all of final week’s vary with the latest breakout in USD/CAD pulling again at the moment from near-term technical resistance. The broader advance could also be weak right here as worth approaches a vital resistance zone we’ve been monitoring for weeks now. 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 Euro worth setup and extra.
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Canadian Greenback Value 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 USD/CAD was, “testing ranges of curiosity for resistance and leaves the quick long-bias weak,” whereas beneath 1.3250s. worth broke larger within the following days with the rally turning at the moment off near-term channel resistance.
Vital day by day resistance stands simply larger on the September high-day shut / 61.8% retracement of the Could decline at 1.3335/56 – a breach / shut above this threshodl could be wanted to maintain the broader long-bias viable. Each day help rests with the decrease parallel, at present ~1.3220s – search for a response there IF reached.