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  • USD/CAD is on track to record one of its best weekly advances since January 2015.
  • USD/CAD is trading at levels not seen since February 2016. 
  • USD/CAD is challenging the 1.1400 figure as bulls are relentless.
 
 

USD/CAD daily chart

 
USD/CAD is massively breaking out to the upside trading into levels not seen since February 2016 as the market is challenging the 1.1400 figure. The oil crash is sending CAD down. 
 

USD/CAD daily chart

 
USD/CAD is spiking up strongly like it was not seen in the last five years. Bulls are challenging the 1.3972/1.4000 resistance zone. The spike up can extend towards the 1.4100 level and above according to the Technical Confluences Indicator. Resistance can be expected near 1.3914 and 1.3871 levels.
 
 
Resistance: 1.3972, 1.4000, 1.4100
Support: 1.3914, 1.3871, 1.3800 
 

Additional key levels

 

Expert score

5

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