USD/CAD Following Downtrend Below 1.3150

Key Highlights USD/CAD declined heavily and settled below the key 1.3180 support area.A connecting bearish trend line is forming with resistance near 1.3130 on the 4-hours chart.Canada’s Retail Sales declined 0.1% in August 2019, whereas the forecast was +0.4%.Canada’s Wholesale Sales could rise 0.3% in Aug 2019, less than the last +1.7%. USD/CAD Technical Analysis ...
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USD/CAD Awaits Canada’s CPI and Fed Decision, Oil Price Trimming Gains

Key Highlights The US Dollar climbed higher recently above 1.3200 against the Canadian Dollar. Oil prices surged higher this week after weekend’s attack on Saudi Arabia’s massive oil facility.The US Industrial Production increased 0.6% in August 2019 (MoM), more than the +0.2% forecast.Canada’s CPI could decline 0.1% in August 2019 (MoM), whereas it increased last mon...
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USD/CAD Remains In Uptrend Above 1.3200

Key Highlights Recently, the US Dollar retested the key 1.3345 resistance against the Canadian Dollar. A major bullish trend line is forming with support near 1.3240 on the 4-hours chart of USD/CAD.Canada’s CPI increased 0.5% in July 2019 (MoM), more than the +0.2% forecast.The US Manufacturing PMI could increase from 50.4 to 50.5 in August 2019 (Preliminary). USD/CAD ...
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USD/CAD Eyes Larger Recovery Above 1.3160, BoC Next

Key Highlights The US Dollar declined to 1.3037 and recently corrected higher against the Canadian Dollar. USD/CAD traded above a bearish trend line with resistance near 1.3080 on the 4-hours chart.The NFIB Business Optimism Index declined from 105.0 to 103.3 in June 2019.The Bank of Canada is likely to keep interest rates at 1.75% in today’s rate decision. USDCAD Tech...
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USD/CAD Tumbles Below 1.3300 Post Fed Policy

Key Highlights The US Dollar failed to surpass the 1.3430-1.3440 resistance zone against the Canadian Dollar. USD/CAD traded below a major bullish trend line with support at 1.3390 on the 4-hours chart.Canada’s Consumer Price Index (CPI) increased 0.4% (MoM), more than the +0.2% forecast.The US Initial Jobless Claims for the week ending June 15, 2019 might decline from 22...
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USD/CAD Broke Key Support, Recovery Could Be Capped

Key Highlights The US Dollar declined heavily below the 1.3400 support area against the Canadian Dollar. USD/CAD is likely to face resistance near the 1.3330 and 1.3350 levels.The US PPI in May 2019 increased 1.8% (YoY), less than the +2.0% forecast.The US CPI in May 2019 could increase 0.1% (MoM), less than the last +0.3%. USDCAD Technical Analysis In the past few da...
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USD/CAD In Strong Downtrend Below 1.3200

Key Highlights The US Dollar declined heavily and settled below 1.3200 against the Canadian Dollar. There is a crucial declining channel in place with resistance at 1.3200 on the 4-hours chart of USD/CAD. Canada’s CPI increased 0.1% (MoM) in Jan 2019, less than the 0.2% forecast. The US Gross Domestic Product for Q4 2018 (Preliminary) will be released today, whi...
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USD/CAD Could Extend Recovery Above 1.3400

Key Highlights The US Dollar started a decent recovery after testing the 1.3200 support against the Canadian Dollar. There is a major ascending channel formed with support at 1.3280 on the 4-hours chart of USD/CAD. Canada’s Retail Sales declined 0.9% in Nov 2018 (MoM), compared with the -0.6% forecast. The US Manufacturing PMI for Jan 2019 (Prelim) will be relea...
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USD/CAD Remains Well Supported On Dips

Key Highlights The US Dollar traded higher recently and broke the 1.3400 resistance against the Canadian Dollar. There is a major bullish trend line formed with support at 1.3420 on the 4-hours chart of USD/CAD. The Canadian CPI increased 1.7% in Nov 2018 (YoY), less than the forecast of 1.8%. Today, the US Initial Jobless Claims will be released, which is forecas...
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USD/CAD At Risk of More Declines Below 1.2920

Key Highlights The US Dollar failed to break the 1.3070 resistance and declined against the Canadian Dollar. USD/CAD broke a major bullish trend line with support at 1.3010 on the 4-hours chart. The US Industrial Production in Sep 2018 increased 0.3%, similar to the forecast. Today, the Euro Zone CPI for Sep 2018 will be released, which is forecasted to increase 2...
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