USDCAD keeps a bearish tilt among the ups and downs this week | Forexlive

The USDCAD has seen a number of up-and-down moves in the price action this week. Having said that, the pair has remained below a broken trend line from last week’s trading, and been able to stay below the highest of moving averages – that being the 100-day moving average near 1.3535.

On the downside, the pair is testing at 200 day moving average of 1.34788. A move below that level should open the door for further selling with the broken 38.2% retracement of the move down from the November high at 1.34525 as the next target.

The video above outlines the key technicals in play and the close risks and targets.