Canadian Dollar may be poised to mount a counter-offensive as the USD/CAD breakout stalls into uptrend resistance. The levels that matter on the weekly technical chart.
A Canadian Dollar offensive has pulled USD/CAD back below critical resistance with price plunging nearly than 2% off the highs. Key levels on the weekly technical chart.
A four-week plunge in USD/CAD takes price into a critical inflection zone heading into the weekly clos. The levels that matter on the Canadian Dollar technical charts.
Canadian Dollar Outlook: USD/CAD Bearish Rebuke- BoC Battle Lines 2021-03-08 19:00:00 Michael Boutros, Strategist
Canadian Dollar Technical Price Outlook: Near-term Trade Levels
Canadian Dollar updated technical trade levels – Daily & Intraday Charts
USD/CAD carving monthly opening range just above key technical support
Bears vulnerable while above 1.2575 – resistance at 1.2723, bearish invalidation 1.2881
The Canadian Dollar bulls have been halted at multi-year extremes with USD/CAD carving the March opening-range just above critical support. The battle-lines are drawn heading into the BoC this week and we’re on the lookout for a breakout of this range to offer further guidance in the days ahead. These are the updated targets and invalidation levels that matter on the USD/CAD price charts. Review my latest Strategy Webinarfor an in-depth breakdown of this Loonie technical setup and more.
Canadian Dollar Outlook: USD/CAD BoC Breakdownâ Loonie Levels 2021-01-20 19:00:00 Michael Boutros, Strategist
Canadian Dollar Technical Price Outlook: Near-term Trade Levels
Canadian Dollar updated technical trade levels – Daily & Intraday Charts
USD/CAD carves monthly opening-range above key lateral support
Key resistance at 1.2782– Break / close below 1.2579 needed to mark trend resumption Advertisement
The Canadian Dollar is up more than 1% against the US Dollar since the start of the week with USD/CAD pressing the lower bounds of a multi-week range in price. While the broader downtrend remains intact, the immediate decline may be vulnerable here near-term as Loonie tests major technical support. These are the updated targets and invalidation levels that matter on the USD/CAD price charts heading into the close of the year. Review my latest Strategy Webinarfor an in-depth bre