USDCAD Weekly Forecast 23rd - 27th March 2020
USDCAD continued its uptrend after finding support on market opening.
This is largely due to rapidly falling oil prices, to several years low.
Before closing this week, USDCAD was resisted at 4 year high, and has begun a technical retracement downward, along with the DXY undergoing retracement.
This week, we are expecting USDCAD to continue rising, at least to it's previous high.
IF USDCAD can break the 4 years supply zone, then much more upside could be possible.
This is largely due to rapidly falling oil prices, to several years low.
Before closing this week, USDCAD was resisted at 4 year high, and has begun a technical retracement downward, along with the DXY undergoing retracement.
This week, we are expecting USDCAD to continue rising, at least to it's previous high.
IF USDCAD can break the 4 years supply zone, then much more upside could be possible.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.