USD/CAD – Week 9 – $1.30 level back on track.
Updated
In our past USDCAD analysis we rightly predicted that the price is bound to make a new low. From that point, the “Loonie” rose more than 200 pips, reaching the 1.27 area, a move that was triggered by risk aversion and a spike in US yields.
Technically speaking, we expect the price to continue its bullish trend towards the $1.30 level, but not without a pullback, as we may encounter some resistance along the way. Our medium-term target for this pair is towards the 1.30 level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically speaking, we expect the price to continue its bullish trend towards the $1.30 level, but not without a pullback, as we may encounter some resistance along the way. Our medium-term target for this pair is towards the 1.30 level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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