Tag: USDCAD

Technical Analysis USDCAD is currently at a level where it has retested the massive uptrend line that had been recently broken. After the retest the pair actually has retreated a little bit. We can also see that the price is capped by a downtrend line which has been tested and seemingly respected. Fundamental Analysis Bank of Canada is likely to continue to be aggressive given that the economic numbers coming out of Canada continues to be good in general. Unless price of crude oil rolls over to the downside, Canadian…

Read More

Fundamental Analysis A hawkish BOC and strong data from Canada has helped Canadian Dollar to remain steady. The pair fell sharply after Fed Chair Yellen failed to deliver any support to the US Dollar as she refused to give any hint of the monetary policy. Strong oil prices also give additional support to the Canadian Dollar. Additionally, if the incoming data fro Canada continues to be strong, it could encourage BOC to consider hiking rates again. In the coming week, if Canadian GDP data beats the expectation or if the…

Read More