USDCAD near horizontal resistance, 1.36 in sight?
After an amazing bullish breakout that I forecasted in one of my previous analysis (link below), USDCAD is trading close to a horizontal resistance at around 1.3380.
The Canadian dollar has been hit by somewhat lower oil prices, and a break above 1.3400 could lead to a retest of the 2019 high around 1.3650.
To the downside, the pair seems supported by the February high around 1.3330.
The Canadian dollar has been hit by somewhat lower oil prices, and a break above 1.3400 could lead to a retest of the 2019 high around 1.3650.
To the downside, the pair seems supported by the February high around 1.3330.
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