Canadian Dollar Outlook: USD/CAD Exhaustion at Technical Resistance

canadian dollar outlook usd cad exhaustion at technical resistance

Sumary of Canadian Dollar Outlook: USD/CAD Exhaustion at Technical Resistance:

  • Canadian Dollar Technical Price Outlook: Near-term Trade LevelsCanadian Dollar updated technical trade levels – Daily &
  • Intraday ChartsUSD/CAD rally signals exhaustion into uptrend resistance- risk for correctionResistance 1.2713/32 – Support ~1.25, bullish invalidation 1.2365 The Canadian Dollar is poised to snap a three week losing streak against the US Dollar after USD/CAD reversed sharply off technical resistance early in the week.
  • These are the updated targets and invalidation levels that matter on the USD/CAD price charts into the close of the week.
  • Review my latest Strategy Webinar for an in-depth breakdown of this Loonie technical setup and more.
  • Canadian Dollar Price Chart – USD/CAD DailyChart Prepared by Michael Boutros, Technical Strategist;
  • USD/CAD on TradingviewTechnical Outlook: In my last Canadian Dollar Price Outlook we noted a constructive bias in USD/CAD while above the monthly open with resistance objectives eyed, “at the April high at 1.2654 and the 2021 yearly open / 100% Fibonacci extension at 1.2713/32 (key)- an area of interest for possible topside exhaustion IF reached.

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