USD/CAD remains bid with the USD drawing haven bids. The 4-hour chart indicates scope for a continuation of the ongoing rally. USD/CAD reversed higher from 1.4424 in early Asia and is currently probing the psychological resistance of 1.46. The American dollar is scoring gains against majors, possibly on haven demand amid persistent coronavirus fears. The consecutive long-tailed 4-hour candles created during the overnight trade represent strong dip demand and suggest scope for a break above Wednesday’s high of 1.4650. That would be the highest level since January 2016. The case for a notable pullback would strengthen if the spot finds acceptance under 1.4349, invalidating the bullish bias signaled by the long-tailed 4-hour candles. That could happen if oil prices see a notable price recovery. WTI oil is currently trading near $23.30, having hit a low of $20.50 on Wednesday. 4-hour chart Trend: Bullish Technical 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 AUD/USD drops nearly 300 pips in Asia to hit the lowest since 2002 FX Street 2 years USD/CAD remains bid with the USD drawing haven bids. The 4-hour chart indicates scope for a continuation of the ongoing rally. USD/CAD reversed higher from 1.4424 in early Asia and is currently probing the psychological resistance of 1.46. The American dollar is scoring gains against majors, possibly on haven demand amid persistent coronavirus fears. The consecutive long-tailed 4-hour candles created during the overnight trade represent strong dip demand and suggest scope for a break above Wednesday's high of 1.4650. That would be the highest level since January 2016. The case for a notable pullback would strengthen if the spot finds acceptance… 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.
