Technical view – USD/CAD
USD/CAD this week
The greenback ended the week with losses of 0.92%, falling below parity after six sessions. The pair should hold on to 0.9920- 0.9940; bottom of the near- tem bullish channel. However, crucial support placed at 0.9860, close below which the trend remains highly bearish in favour of the USD.
- Short and medium term trend- Bullish
- Long term trend- Bearish
- Long USD/CAD at 0.9930 with a stop loss at 0.9890 for a profit target of 0.9990
- Long USD/CAD at 0.9860 with a stop loss at 0.9810 for a profit target of 0.9990
- Short USD/CAD at 0.9810 with a stop loss at 0.9870 for a profit target of 0.9720