18.9 C
New York
Tuesday, May 18, 2021

Chart Of The Day: USD/CAD

Must read

Siemens Energy does not currently plan full Siemens Gamesa takeover

Stock Markets6 minutes ago (May 18, 2021 09:36AM ET) (C) Reuters. FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is...

U.S. housing starts drop sharply; building permits rise modestly

Economic Indicators7 minutes ago (May 18, 2021 09:36AM ET) (C) Reuters. New townhomes are seen under construction while building material supplies are in high demand...

Thai workers killed in Israel-Palestinian conflict as truce calls mount

2/2 (C) Reuters. Smoke rises following an Israeli air strike, amid a flare-up of Israeli-Palestinian fighting, in Gaza City May 17, 2021. REUTERS/Suhaib Salem 2/2 By Nidal...

Exclusive: Orcel cuts Santander claim to more than $55 million in job offer case – source

(C) Reuters. FILE PHOTO: Andrea Orcel poses with IFR's 'Bank of the Year for 2015' award at the 2016 IFR Awards event in London,...

The last couple weeks I had (wrongly) tried to play the long side of the USD/CAD until the Bank of Canada started to taper bond purchases, which allowed CAD to push USD/CAD to new trendline. Combine the central banks action with a strong stock market and “risk taking” euphoria of the capital markets, this could send the pair below the 1.2200 level near term. Channel support and the 161% extension at 1.2186 seems like a viable near-term target while below the 1.2366 level.

USD/CAD Daily Chart.

USD/CAD Daily Chart.

Chart Of The Day: USD/CAD

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

- Advertisement -

Latest article

Siemens Energy does not currently plan full Siemens Gamesa takeover

Stock Markets6 minutes ago (May 18, 2021 09:36AM ET) (C) Reuters. FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is...

U.S. housing starts drop sharply; building permits rise modestly

Economic Indicators7 minutes ago (May 18, 2021 09:36AM ET) (C) Reuters. New townhomes are seen under construction while building material supplies are in high demand...

Thai workers killed in Israel-Palestinian conflict as truce calls mount

2/2 (C) Reuters. Smoke rises following an Israeli air strike, amid a flare-up of Israeli-Palestinian fighting, in Gaza City May 17, 2021. REUTERS/Suhaib Salem 2/2 By Nidal...

Exclusive: Orcel cuts Santander claim to more than $55 million in job offer case – source

(C) Reuters. FILE PHOTO: Andrea Orcel poses with IFR's 'Bank of the Year for 2015' award at the 2016 IFR Awards event in London,...

Tether To Go Live on High-Speed Avalanche

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order...