As crude oil prices climb due to the geopolitical conflict, has resulted in the Canadian Dollar gaining strength.
With the prices testing the 1.36 price level, the idea was a bounce above the 23.60% fib retracement level could see a continuation to the upside.
However, with the DXY weakening, look for the USDCAD to break below the longer term fib retracement level of 61.8% to signal a continuation of the recent downtrend, with the next major support level at 1.34
With the prices testing the 1.36 price level, the idea was a bounce above the 23.60% fib retracement level could see a continuation to the upside.
However, with the DXY weakening, look for the USDCAD to break below the longer term fib retracement level of 61.8% to signal a continuation of the recent downtrend, with the next major support level at 1.34