USDCAD has faced strong resistance at 4 - years high and has been falling since.
This is mainly due to the Dollar falling due to QE being relaunched.
However, with such a large uptrend, a technical pullback is inevitable.
This week, we are expecting price to reach previous demand zone. Should price be supported here, it would be a good buy opportunity, as Crude oil prices are still falling and BoC cutting rates again, USDCAD should continue being bullish.
This is mainly due to the Dollar falling due to QE being relaunched.
However, with such a large uptrend, a technical pullback is inevitable.
This week, we are expecting price to reach previous demand zone. Should price be supported here, it would be a good buy opportunity, as Crude oil prices are still falling and BoC cutting rates again, USDCAD should continue being bullish.