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Canadian Dollar Forecast: USD/CAD Scales Above 1.3200 on CAD Jobs
It’s so far been a big week for the US Dollar. While the US currency limped into last week’s close, holding support around two-month-lows, this week has seen a continuation of strength as that bearish trend has pulled back. In the USD, this has amounted to a fresh three-week-high, with the Greenback moving to and breaking-out from two different resistance zones looked at yesterday. In USD/CAD, however, that pullback had been muted as the same resistance that came into play after last week’s Bank of Canada and FOMC rate decisions held the highs through a couple of tests earlier this week. This morning’s ... (full story)