Good morning dear traders! USD/CAD testing monthly open support 1.3405/07. Key near-term resistance steady at 1.3575. “USDCAD has continued to trade within the confines of this modified pitchfork extending off the yearly lows with price extending into fresh nine-month highs. The pair responded to a key resistance range early in the week around 1.3575 - this region is defined by the 50% retracement of the 2016 range and converges on multiple parallels over the next few days.” The pair failed on another retest of this level on Friday and leaves the risk for further losses in the greenback with pullback now eyeing a key near-term support confluence which if broken, could fuel a more significant decline.
Today we have important news on CAD Core Retail Sales m/m. If the news on CAD will be good i think will be a nice sell entry on this pair
usdcad scenariu.jpg
Today we have important news on CAD Core Retail Sales m/m. If the news on CAD will be good i think will be a nice sell entry on this pair
usdcad scenariu.jpg
(Discuss) USD/CAD Pullback Eyes Key Support Zone Ahead of Canada Retail Sales
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