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Canadian Dollar Technical Outlook: Loonie Rally Slams USD/CAD into Support

From dailyfx.com

The US Dollar is down more than 7% since the March highs against the Canadian Dollar with USD/CAD now probing key near-term support into the start of June trade. These are the updated targets and invalidation levels that matter on the USD/CAD price charts heading into the monthly open. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Loonie trade setup and more. {image} Technical Outlook: In my last Canadian Dollar Price Outlook we note to be on the lookout for, “topside exhaustion ahead of the late-March trendline IF price is indeed heading lower with a break below the objective May ... (full story)

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  • Category: Technical Analysis