Canadian Dollar | Data | Chart | Calendar | Forecast | News
Canadian Dollar Forex Gurus USDCAD increased 0.0024 or 0.19% to 1.2705 on Tuesday August 15 from 1.2681 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.
USD/CAD remains neutral for the moment. The corrective rise from 1.2412 might still extend higher. But based on current momentum, upside should be limited by 38.2% retracement of 1.3793 to 1.2412 at 1.2940 to bring fall resumption. On the downside, below 1.2552 minor support will argue that the recovery is completed and turn bias back to the downside for retesting 1.2412.
Canadian Dollar Forex Gurus
In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Such corrective fall is still expected to extend 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. Nonetheless, on the upside, sustained break of 1.2968, 38.2% retracement of 1.3793 to 1.2412 at 1.2940 will be the first sign of completion of the correction and will turn focus back to 1.3793 key resistance.
|1.27||1.27||1.61||0.92||1972 – 2017||Daily|