However, a correction might be expected any time as the pair has been trading into a descending channel for three months. First bull target can be seen at 1.2900. First support can be found at 1.2600.
Chart: USD/CAD D1
Wednesday, April 20, 2016
USD/CAD 20 Cents Down
The Canadian Dollar appreciated with more than 20 cents against its major competitor - the US dollar. The pair is down to 1.2670 from a high of 1.4690. In less than three months, from Jan 20 until today Apr 20, the USD/CAD has lost a significant amount which makes it one of the biggest losers for the first quarter.
However, a correction might be expected any time as the pair has been trading into a descending channel for three months. First bull target can be seen at 1.2900. First support can be found at 1.2600.
Chart: USD/CAD D1
However, a correction might be expected any time as the pair has been trading into a descending channel for three months. First bull target can be seen at 1.2900. First support can be found at 1.2600.
Chart: USD/CAD D1
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Well spotted! Thanks for sharing it.
ReplyDeleteIt has almost reached 1.2600 and I think it may fall even lower than that level.
ReplyDeleteGreat post.
ReplyDeleteThank you for sharing.
ReplyDeleteThank you for the analysis very helpful.
ReplyDeleteUseful information.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDelete