after a strong couple of weeks with the CAD struggling against the dollar, the cad has made a turn around looking stronger against USD.
The downward trend seems to have slowed down and looks to be consolidating betwen 1.293 and 1.283|
The angle between 21 and 9 period MA has decreased confirming the slow down
a break below the support of 1.282 may see the USDCAD going all the way down to the medium term support of 1.265.
if the price fails to break through 1.283 we may see the weakening of the CAD continuing with the first resistance @ 1.30 and the next at the March high of 1.312
The downward trend seems to have slowed down and looks to be consolidating betwen 1.293 and 1.283|
The angle between 21 and 9 period MA has decreased confirming the slow down
a break below the support of 1.282 may see the USDCAD going all the way down to the medium term support of 1.265.
if the price fails to break through 1.283 we may see the weakening of the CAD continuing with the first resistance @ 1.30 and the next at the March high of 1.312