Given the strength of the current move, this has pushed USDCAD to the highest level since 2003. CAD$ depreciated against the US dollar and made intraday high of 1.41086 levels. Above 1.4100, traders can look to 1.4275/43…
Given the strength of the current move, this has pushed USDCAD to the highest level since 2003.
CAD$ depreciated against the US dollar and made intraday high of 1.41086 levels.
Above 1.4100, traders can look to 1.4275/43, which is the top of the channel drawn from the late August high and is 100% of the initial move off the mid-May low projected higher from 1.3811.
While looking at monthly chart, immediate resistance is seen at 1.4165 levels, above that next resistance is seen at 1.4191 levels.
On the other side, support levels are seen at 1.3990 and 1.3811 levels.
Looking ahead for the fundamental news, BOC Governor Poloz speech will be there, due to this volatility is expected.
