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Forex technical analysis: USDCAD extends to new highs as oil reaches new session lows

Discussion in 'Technical Analysis' started by ForexLive, Jan 8, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    That old trade... The USDCAD has moved to new session highs as oil prices move to new session lows (that old chestnut). The price of oil just dipped below $33 per barrel, trading to a new low of 32.69. The USDCAD, meanwhile broke back above 1.4107 (high from Jan 6) and looks toward the high price for the week - which was also very near the swing high going all the way back to July 2003 (at 1.41687 and 1.4164 respectively).

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