USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD
USDCAD is going up quite a bit right now. The reason is that the OIL is slightly DOWN. Also, MARKETS RISK has been OFF again. And the US CPI data was very good. So now USD has become very STRONG. US RETAIL SALES DATA was also very POSITIVE. Because of that, yesterday's FOMC MEETING caused a 75bps rate hike. SENTIMENT related to USD became STRONG in recent days. But now with good DEMAND for US YEILD, USD is moving UP. Due to this reason, STOCKS can continue to move DOWN SIDE if the USD goes up like this in the coming days.
Right now, the UP SIDE is being BUY very well because the USDCAD MARKET is US DATA and UPDATES POSITIVE. We think it will go up to the 1.4049 level before going down again with the market risk off sentiment.
Somehow USDCAD will likely SELL up to 1.3155 LEVEL. We wait until the DOWNSIDE TREND CONTINUES. FOLLOW THE STRUCTURE GIVEN.
