Search ForexCrunch

USDCAD: With the pair triggering a corrective pullback, further decline is envisaged. On the upside, resistance is seen at the 1.2050 level followed by the 1.2100 level.

Further out, resistance comes in at the 1.2150 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.2200 level. On the downside, support lies at the 1.1900 level followed by the 1.1850 level. Further out, support resides at the 1.1800 level and then the 1.1750 level. All in all, USDCAD continues to face corrective pullback threats.