After taking out the channel bottom, support is light until the multi-decade low comes into view down at 1.0550. However, should momentum carry through, this swing low could fall as loonie traders big the currency to a new high.
[B][U]USD/CAD[/U][/B]
[B]- Resistance[/B] : 1.0660
[B]- Support[/B]: 1.0550
- Momentum has taken over for USDCAD after a break of the 3-week old trend channel.
- After taking out the channel bottom, support is light until the multi-decade low comes into view down at 1.0550. However, should momentum carry through, this swing low could fall as loonie traders big the currency to a new high.