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USD/CAD rebound could be short-lived

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The USD/CAD has collapsed after its parabolic rise ended in mid-January, when oil prices first showed signs of stabilisation. Since peaking at just shy of 1.4700, the Loonie has tumbled to below 1.30, hitting a low of 1.2925 last week. It has shed in the process some 1765 pips from the high to the low, or almost 23 per cent in the space of only nine weeks. At the start of this week, the USD/CAD has bounced back somewhat. It is interesting to note that the CAD has weakened here despite the

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