Monday, March 7, 2016

The USD/CAD breaks the 1.3300 level

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.


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