Canadian Dollar Technical Forecast: USD/CAD Coil Bound to Break
The Canadian Dollar is trading just below the yearly-open with USD/CAD continuing to contract within a massive multi-month consolidation pattern. Battle lines are drawn as we look for a breakout of a range within a range. These are the updated targets and invalidation levels that matter on the USD/CAD weekly technical chart. CHART Technical Outlook: In last month’s Canadian Dollar Technical Forecast we continued to highlight this massive multi-month consolidation in USD/CAD while noting that the, “advance is testing resistance this week at the 61.8% Fibonacci retracement of the March decline at 1.3648- looking ... (full story)
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