Technical lines from top to bottom:
We start with resistance at 1.2869.
1.2784 (mentioned last week) is next.
1.2631 switched to resistance in mid-March, when CAD started a strong rally.
1.2459 is the first level of support.
1.2308 has held in support since February 2018.
1.2155 is the final support level for now.
I am neutral on USD/CAD
The Canadian dollar has benefited from the recent rise in higher oil prices, but the crude oil rally may have run out of steam. The US stimulus package has been approved by Congress and should stimulate the economy, which is bullish for the US dollar.
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