Usd/cad Hits Yearly High at 1.41086

  • Given the strength of the current move, this has pushed USDCAD to the highest level since 2003.
  • CAD$ depreciated against the US dollar and made intraday high of 1.41086 levels.
  • Above 1.4100, traders can look to 1.4275/43, which is the top of the channel drawn from the late August high and is 100% of the initial move off the mid-May low projected higher from 1.3811.
  • While looking at monthly chart, immediate resistance is seen at 1.4165 levels, above that next resistance is seen at 1.4191 levels.
  • On the other side, support levels are seen at 1.3990 and 1.3811 levels.
  • Looking ahead for the fundamental news, BOC Governor Poloz speech will be there, due to this volatility is expected.

The material has been provided by InstaForex Company – www.instaforex.com

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