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Canadian Dollar Short-term Outlook: USD/CAD Trump Rally Unravels
The US Dollar has been on the defensive since the start of the week with USD/CAD down nearly 1% from the post-election highs. The decline takes price into the first line of defense for the bulls and a break below could fuel a larger correction within the broader uptrend. We’re looking for a possible inflection off this key range in the days ahead. Battle lines drawn on the USD/CAD short-term technical charts. chart In my last Canadian Dollar Short-term Outlook we noted that USD/CAD was trading just below major resistance near 1.3978/90 on the heels of the US election and that the, “focus is on a breakout of the ... (full story)
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- Posted: Nov 20, 2024 2:15am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 6,102
