Technicals: USDCAD In Conflict With Long-Term Trend

  • Resistance: 1.0780
  • Support: 1.0620
  • The USDCAD appreciated today, continuing to carve its way through an almost three-week old trend channel. Tomorrow, watch for trading around 1.0780 as the pair is due to hit the resistance and possibly start its decent.
  • The intraday trend channel which is guiding USDCAD higher is now coming into conflict with the bigger downward slopping trend line. The long-term direction of the pair may be hanging in the balance.

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