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USD/CAD Technical Outlook at Critical Juncture

USD/CAD Technical Outlook at Critical Juncture

Paul Robinson, Strategist

USD/CAD flushed a level of resistance yesterday that dates back to the spring of 2020. Yesterday’s indecision candle suggests that we could soon see a sizable move. A breakout above 13855 or below 13714 should get a directional move some momentum. Traders should be on their toes as we head through the rest of the week.

See the video above for the full set of details.

USD Forecast
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Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.