the daily chartist

USD/CAD recap for 07.10.2015

published 5 years ago

On the Canadian front, the price retreated from 1.29435 after it dipped deep in the buy zone from 1.30596 and USD gained ground as Oil price retreated from its highs and pushed down. The zone is interesting as the price as in the past is finding strong support there and the price hovered for some time above it. Still with these much tests and attacks from the bears and if Oil prices continue to fall, USD/CAD will see a fall again to 1.29435 and 1.28692. For now as the price is under the red line HAS indicator sell the on the corrections and continue to play with the downtrend. Of course watch closely for the zone if it holds, go with the move upwards.