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USDCAD – US Dollar Eyeing Critical Break
The US Dollar enjoyed a decent run towards the upside against the Canadian Dollar. However, the USDCAD pair is facing a monster resistance in the form of a bearish trend line on the hourly chart. The pair has to clear the trend line if it has to trade higher moving ahead. The most important point is the fact that the 100 and 200 hourly simple moving averages are also around the same trend line to act as a barrier for buyers. On the downside, the 1.3060 level might serve as a support. US CPI Earlier during the NY session, the US Consumer Price Index, which is a measure of price movements by the comparison between the ... (full story)