The US
Dollar tries to regain some ground versus the Canadian Dollar and it goes back
up to the 1.2600, but it couldn’t break above that level. The Canadian Dollar
has a positive correlation with oil, and because oil has been dropping, that’s why
this pair has been rising. If the price of oil goes back up, then the pair may
bounce from this zone to the downside and the 1.2421 or the 1.2400 could become
a good support.
Very strong movement.
ReplyDeleteIt could be at a good turning point.
ReplyDeleteInteresting information, will have it in mind!
ReplyDeleteInteresting.
ReplyDeleteVery useful analysis.
ReplyDeleteSimple and clear analysis, thanks.
ReplyDelete