USDCAD Trump Shock Pushes Canadian Dollar Down

USDCAD Dropped Midday Chatter for Canadian Dollar on Thursday July 6

Canadian Dollar | Data | Chart | Calendar | Forecast | News

FOREX INVESTORS   USDCAD Dropped Midday Chatter The USDCAD decreased 0.0012 or 0.09% to 1.2944 on Thursday July 6 from 1.2955 in the previous trading session. Historically, the Canadian Dollar reached an all time high of 1.61 in January of 2002 and a record low of 0.92 in November of 2007.

A temporary top is in place at 1.2911 after touching 1.3013 minor resistance. Intraday bias in USD/CAD is turned neutral first. Considering bullish convergence condition in 4 hour MACD, break of 1.3013 will indicate short term bottoming. In such case, stronger rebound would be seen back to 1.3164/3346 resistance zone first, before staging another fall. Overall, we’d expect decline from 1.3793 to extend later and sustained trading below 1.2968 cluster support, 61.8% retracement of 1.2460 to 1.3793 at 1.2969 will pave the way to retesting 1.2460 low.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. The second leg should have finished at 1.3793. Break of 1.2460 will extend such correction to 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we’d look for strong support from there to contain downside and bring rebound. However, firm break there will target 100% projection of 1.4689 to 1.2460 from 1.3793 at 1.1564.




USDCAD Dropped Midday Chatter

READ  EURUSD First Look for Euro Dollar Friday June 23
READ  CURRENCY INVESTORS Canadian Dollar Opened Down on Wednesday July 19
READ  USDCAD decreased 0.0004 or 0.03% to 1.3476

Canadian Dollar

The USDCAD spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the CAD. While the USDCAD spot exchange rate is quoted and exchanged in the same day, the USDCAD forward rate is quoted today but for delivery and payment on a specific future date. This page provides – Canadian Dollar – actual values, historical data, forecast, chart, statistics, economic calendar and news. Canadian Dollar – actual data, historical chart and calendar of releases – was last updated on July of 2017.

 

Actual Previous Highest Lowest Dates Unit Frequency
1.29 1.30 1.61 0.92 1972 – 2017 Daily

Like up on FACEBOOK


logo



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)




Click here for reuse options!
Copyright 2017 Investors Buz

Leave a Reply