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Canadian Dollar Forecast: USD/CAD Breakout Potential– Loonie Levels 2021-04-20 18:30:00 Michael Boutros, Strategist Canadian Dollar Technical Price Outlook: USD/CAD Weekly Trade Levels Canadian Dollarupdated technical trade levels - Weekly Chart USD/CAD recovery testing multi-week high / April opening-range - breakout potential Resistance 1.2619, bearish invalidation at 1.2774 - support 1.2473 Advertisement The Canadian Dollar is down more than 0.71% against the US Dollar early in the week with USD/CAD once again approaching resistance at multi-week range highs. We’re looking for possible inflection up here with a close above the 1.26-handle needed to suggest a larger recovery is underway. These are the updated targets and invalidation levels that matter on the USD/CAD weekly technical price. Review my latest Strategy Webinar for an in-depth breakdown of this Loonie technical setup and more.

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