USD/CAD - What to Keep in Mind

Trading Discussion Currencies
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USD/CAD has been trending downwards since its December highs, and could be on the cusp of more downside as Canada’s CPI data for December took the annual inflation rate to its highest in 30 years.

Despite initially trading lower, USD/CAD closed out the session relatively flat, holding support along the 1.2500 level.

Will strong economic data and a continued rally in oil prices push this currency pair lower?

Click the following link for a deeper analysis into USD/CAD and the levels to keep an eye on:

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If we consider the long term with technical analysis, the market has strong support from 1.23 to 1.20. If you want to counter, this support may be from the zone, but if this price breaks, the downtrend may be stronger.

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