USD/CAD rebounded from Thursday’s two-and-a-half year low at 1.2688, closing the week at 1.2781. However, several fundamental trends support continuing gains for the Canadian dollar while technical indications point down as well, according to FXStreet’s Analyst Joseph Trevisani. Key quotes “The fundamental inclination of the USD/CAD is lower, based on rising commodity prices as the global economy reignites, market disappointment with the US recovery and the lack of additional American stimulus.” “The Fed’s control of US credit markets and the extension of zero rates until the economy is ‘fully recovered’ prevents what would be their anticipatory rise well before the US and global return to normal growth.” “Except for the immediate support lines at 1.2730 and 1.2700 all deeper lines stem from the first half of 2018 and are weak thereby. Resistance lines are based on positions and trading of the past months and the current economic and virial realities.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next French Health Minister: Coronavirus vaccines should work against new covid strain FX Street 1 year USD/CAD rebounded from Thursday's two-and-a-half year low at 1.2688, closing the week at 1.2781. However, several fundamental trends support continuing gains for the Canadian dollar while technical indications point down as well, according to FXStreet’s Analyst Joseph Trevisani. Key quotes “The fundamental inclination of the USD/CAD is lower, based on rising commodity prices as the global economy reignites, market disappointment with the US recovery and the lack of additional American stimulus.” “The Fed's control of US credit markets and the extension of zero rates until the economy is ‘fully recovered’ prevents what would be their anticipatory rise well before the… 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.
