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Canadian Dollar Price Forecast: USD/CAD, CAD/JPY, EUR/CAD
2021-03-15 18:00:00
James Stanley,
Senior Strategist
Canadian Dollar, USD/CAD, CAD/JPY, EUR/CAD Talking Points:
The Canadian Dollar has remained very strong against many major currencies, with the CAD driving to a fresh three-year-high against the US Dollar to start this week.
The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.
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The Canadian Dollar continues to show signs of strength, helped along by the topside drive in Oil prices that’s helped to bring buyers back to the bid behind the commodity currency. On Thursday of last week, I looked at the potential for breakdown in USD/CAD as the pair was closing in on a re-test of the vaulted psychological level at 1.2500. That breakout has since clear as the USD/CAD pair pushed down to a fresh three-year-low to start this week.