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Oil strength helping CAD

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Oil strength helping CAD The OPEC meeting in Doha at the weekend is garnering a lot of attention particularly with Saudi Arabia and Russia agreeing on a production freeze yesterday...according to sources. Oil has rallied around $4 in the last three days and the same strength can be seen in many Oil producer currencies. USDCAD has broken key support1.2827 and closed below down trending wedge; a close back inside in the wedge gives a chance to rotate back higher towards 1.3033

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