The rally of oil to the 40 dollars per
barrel zone has caused the Canadian Dollar to rally and we can see on the daily
chart of the USD/CAD that the pair has broken below the 1.3300 level. The
bearish momentum may continue and the pair may reach the 1.3200 level. The 200
day exponential moving average, around the 1.3400 zone could act as resistance
in case the price retraces to that area.
Looks like it will keep pushing lower.
ReplyDeleteBearish pressures continue.
ReplyDeleteI think the long-term target is 1.2900.
ReplyDeleteGood point! I´ll be watching to those levels.
ReplyDeleteThat was very useful analysis.
ReplyDeleteVery well spotted!
ReplyDeleteVery useful analysis.
ReplyDeleteInformative article, thank you.
ReplyDelete