1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

USD/CAD extends dive on oil rebound, Canada GDP

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    USD/CAD further extended its prolonged pullback on Tuesday to hit and slightly dip below major support at the 1.3400 level and its key 200-day moving average. The currency pair has not broken below its 200-day moving average since late-2014. Tuesday’s dive occurred as crude oil prices continued to strengthen on sustained hopes for an output freeze among major oil-producing nations, which boosted both the Brent and WTI crude benchmarks as well as the oil-correlated Canadian dollar. Also driving

    Continue reading...
     

Share This Page