USDCAD Weekly Forecast 16th - 20th March 2020
USDCAD has been rising ever since a break out of it's 8-month channel. Price gapped this week, breaking strong resistance, due to oil prices falling to a 4 year low.
USDCAD has broken several points of resistance, before retracing and finding support at 3 year demand zone.
With BoC cutting interest rates to 0.75% yesterday, USDCAD is likely to gap again, or continue it's uptrend.
Look for buy opportunities when market opens at current price, or await a retracement for entry.
USDCAD has broken several points of resistance, before retracing and finding support at 3 year demand zone.
With BoC cutting interest rates to 0.75% yesterday, USDCAD is likely to gap again, or continue it's uptrend.
Look for buy opportunities when market opens at current price, or await a retracement for entry.