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USDCAD plummets below crucial trendline

From xm.com

{video}USDCAD has been constantly losing ground following its 13-month high of 1.3898 on November 11. Moreover, the pair dropped to its lowest levels in more than two months on Friday, with the bears pushing the price below the crucial ascending trendline that connects a series of higher lows since October 2022. Should the selloff persist, the September low of 1.3377 could be the first barricade for the price to claim. A violation of that territory could open the door for the April bottom of 1.3300. Failing to halt there, the pair could extend its retreat towards the February low of 1.3262. On the flipside, if the ... (full story)

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  • Category: Technical Analysis