The CAD could drop

[fxstrategist]

The USDCAD stays in a bearish trend and it could reach the 1.2700 level. The pullbacks on the pair may have served as good entry points.

 

[fxstrategist]

The USDCAD looks like it wants to break below the 1.2600 level and it may do so, due to the well sustained bearish trend.

 

[fxstrategist]

The USDCAD may continue lower, even though right now is finding some support around the 1.2500 zone.

 

[fxstrategist]

The USDCAD keeps correcting to the upside, but the 200 day EMA may hold the price down, before heading back to its bearish trend.

 

[fxstrategist]

The USDCAD finally breaks below the 1.2900 level and accelerates its bearish momentum, the pair may reach the 1.2800 level, which could act as support.

 

[fxstrategist]

Good bullish pullback on the USDCAD on the daily chart. The pair may find resistance around the 1.2900 level, to the downside, the 1.2655 may act as support.

 

[fxstrategist]

Waiting to see if the USDCAD can break above the 200 day EMA. The 1.2900 may act as support.

 

[fxstrategist]

The USDCAD drops again on the daily chart, but there is actually no clear trend. The 1.2655 level may act as support and the 1.3100 as resistance.

 

[fxstrategist]

The USDCAD may break above the 1.3100 level and continue to the 1.3200 level, but a bounce to the downside may cause the 1.3000 level to become support.

 

[fxstrategist]

Interesting consolidation on the USDCAD just below the 1.3200 level with a possible bullish breakout.