For the fourth time in eight weeks the USD/CAD reached the support band of its two month range at 1.3850-1.3880 and failed to make more than a cursory penetration. The retreating tops for the past month give an indication of sentiment and eventual direction as markets wait for a trigger, FXStreet’s analyst Joseph Trevisani reports. Key quotes “Market actions points to an eventual surrender of the US risk premium, likely in a rapid move similar to the one week vault from 1.3400 in early March. Without new signs that the pandemic is regaining potency the USD/CAD will return to its pre-viral levels. The question is whether the decay of time or a trigger will prompt the move lower.” “Canadian statistics for March were better than forecast, perhaps less bad is a more accurate though displeasing term. April’s numbers were largely as expected. It will be the differential between the US and Canada economies in the second half that sets the USD/CAD direction to year end.” “The cross of the 21-day average on Monday leaves it just above the week’s close at 1.4015 adding a bit to resistance. The 100-day and 200-day averages trail the market and at 1.3670 and 1.3445 will aid support at those levels.” 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 NZD/USD: Liquidity cheers the kiwi up – ANZ FX Street 3 years For the fourth time in eight weeks the USD/CAD reached the support band of its two month range at 1.3850-1.3880 and failed to make more than a cursory penetration. The retreating tops for the past month give an indication of sentiment and eventual direction as markets wait for a trigger, FXStreet’s analyst Joseph Trevisani reports. Key quotes “Market actions points to an eventual surrender of the US risk premium, likely in a rapid move similar to the one week vault from 1.3400 in early March. Without new signs that the pandemic is regaining potency the USD/CAD will return to its pre-viral… 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.