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USD/CAD Could Soon Sustain a Breakout

USD/CAD Could Soon Sustain a Breakout

Paul Robinson, Strategist

USD/CAD looks like it might be ready to break out with repeated attempts to rally over the 13200 area recently failing, but getting tested again. A breakout may finally be sustainable with dollar strong, stocks weak. Often times breakouts fail in this pair, but the conditions are there for it to finally make a breakout stick. If we see another failure then the short-term bias would turn negative again.

USD/CAD Daily Chart

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USD/CAD Charts by TradingView

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

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