USDCAD Plummets but Remains Within Range
Prepared by Jamie Saettele, CMT
The USDCAD plummeted today following hawkish comments from the Bank of Canada. It seems a bit too easy to simply short the USDCAD on news but a break below 9841 would shift focus to 9725 (what constitutes a break is always up for debate but price should spend at least 1 session below/above the pivot). 9925/60 is resistance.
Bottom Line (next 5 days) – ?
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.