USD/CAD forms tentative bottom

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Since it hit a new five-month low below 1.2900 late last week on the last day of March, USD/CAD has rebounded to hit a high briefly above 1.3200 resistance as of Tuesday. This rebound has occurred as the price of crude oil has retreated in the past several trading days, dragging the oil-correlated Canadian dollar down with it. Renewed pressure on oil prices has been brought on after an apparent stumbling block recently surfaced surrounding proposed negotiations among major OPEC nations and

    Continue reading...

Share This Page

free forex signals