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USDCAD proceeds with uptrend

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The unemployment in Canada rose to 7.1 % and CAD weakened. On the contrary US NFP results came better than expected and Unemployment rate is steady which is another step towards the rate hike in December. Technically,USDCAD and NZDUSD are showing positive correlation too which goes in alignment with my previous NZDUSD coverage (+100 pips after the analysis). USDCAD has been bought on dips and I expect the trend to continue. Currently we can see that USDCAD is showing regular bearish divergence

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