I donīt think so. It will go up. Bad news from EU push the dollar up.It is clear way upwards.
USD/CAD Signals Bearish Continuation with Downside Channel Breakout
The USD/CAD is seen in the 1H chart breaking below a rising channel. - Note that the RSI never sustained a break above 60. If it falls back below 40, it is a good sign that the bearish momentum is returning, as it never left. - The RSI reading also shows a negative reversal, where there is a higher RSI high, but a lower price high, suggesting a swing projection towards 0.9563 in the very short-term (1-2 days). A break back below 0.96 is strong evidence for this outlook. - On the upside, a break above 0.97 gives trouble to the bearish outlook, and give way to more sideways action. - The daily chart shows a sharp ... (full story)