USDCAD Weekly Forecast 9th - 13th March 2020
USDCAD broke out of a channel in the recent 2 weeks and has found support at 1.3322.
With how weak USD was this week, USDCAD still continued it's uptrend after finding support.
As BoC had recently cut interest rates by 50bp, and also with oil prices breaking lows, we are expecting USDCAD to continue rising.
First resistance in sight would be the supply zone at 1.3520. Await a retracement for better price to buy USDCAD at this week.
With how weak USD was this week, USDCAD still continued it's uptrend after finding support.
As BoC had recently cut interest rates by 50bp, and also with oil prices breaking lows, we are expecting USDCAD to continue rising.
First resistance in sight would be the supply zone at 1.3520. Await a retracement for better price to buy USDCAD at this week.