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U.S. Dollar / Canadian Dollar

USDCAD Summary & Trade Setups

By Sabi
USDCAD

The USDCAD is currently hooked at a critical level that is acting as support for the pair along with a trend line that began back in Q4 2015. Note that the 50MA is also acting as resistance.

I'm flat on the CAD until we see a break to either the north or south, once we receive this signal expect this pair to move very rapidly as is it's tendency.

A break to the upside would open up 1.43000 then the Jan highs.

A break to the downside would open up 1.35000 then 1.33000
Sabi

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