The Canadian dollar continues its journey south, mostly suffering from the strength of the US dollar. This is the highest level since May. USD/CAD shot above the 1.08 level after breaking earlier above resistance at 1.0750 and stopping only for a short pause. The pair reached a high of 1.0813 before cooling and sliding back below 1.08, but the battle is far from over. Fear has hit the markets, with both the US dollar and the Japanese yen strengthening before the weekend. The loonie joins the euro, pound and its peer commodity currencies in the fall. Resistance awaits at 1.0850 while initial support stands at 1.0780 followed by more serious support at the 1.0750 battlefield. For more levels, events and analysis, see the Canadian dollar forecast. The Bank of Canada is basically clueless about the next direction of monetary policy, despite a heating up of inflation. — more coming More: Adam Button lists 5 reasons for the fall of the loonie. The big event next week is the release of Canadian GDP. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next German Weltschmerz Hammers Markets Karl Schamotta 9 years The Canadian dollar continues its journey south, mostly suffering from the strength of the US dollar. This is the highest level since May. USD/CAD shot above the 1.08 level after breaking earlier above resistance at 1.0750 and stopping only for a short pause. The pair reached a high of 1.0813 before cooling and sliding back below 1.08, but the battle is far from over. Fear has hit the markets, with both the US dollar and the Japanese yen strengthening before the weekend. The loonie joins the euro, pound and its peer commodity currencies in the fall. Resistance awaits at 1.0850… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
