In opinion of Axel Rudolph, Senior Analyst at Commerzbank, the pair could slip back to the 1.2920 region, where it is expected to consolidate ahead of another bullish attempt. Key Quotes “USD/CAD continues to come off its June peak at 1.3386 and is sliding towards the breached 2016-18 downtrend line and the 2018 support line at 1.2922/17. There the currency pair may well stabilize before another up leg is made”. “Longer term we still believe that USD/CAD is aiming for the 1.3532/97 November and December 2016 as well as the March 2017 highs. Further up sits the May 2017 peak at 1.3791″. “Over the next few days further sideways trading with a slightly bearish bias remains to be seen, however”. “Were support at 1.2922/17 to give way on a daily chart closing basis, the 50% retracement and 200 day moving average at 1.2820/18 could be reached”. 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 Bitcoin price analysis: BTC/USD embracing $7,500 support but still in danger of plunging further FX Street 5 years In opinion of Axel Rudolph, Senior Analyst at Commerzbank, the pair could slip back to the 1.2920 region, where it is expected to consolidate ahead of another bullish attempt. Key Quotes "USD/CAD continues to come off its June peak at 1.3386 and is sliding towards the breached 2016-18 downtrend line and the 2018 support line at 1.2922/17. There the currency pair may well stabilize before another up leg is made". "Longer term we still believe that USD/CAD is aiming for the 1.3532/97 November and December 2016 as well as the March 2017 highs. Further up sits the May 2017 peak… 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.
