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USDCAD Update, 1.4270 in sight

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USDCAD, Daily The USDCAD pair trades higher after both the Canada and U.S. employment reports came in above expectations. Traders should note that crude prices have dropped and further losses will support the USDCAD buyers. Technically, the USDCAD is in a momentum driven long term uptrend creating higher tops and higher bottoms, with the next valid monthly resistance level in sight near the 1.4270 area.

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