USDCAD high so far 1.0809 and still clinging to 1.0800
1.0804 was the 38.2% fibonacci retracement from the 2009-2011 drop ( 1.3065 down to 0.9407) with next resistance seen at 1.0820
Talk also of barrier options at 1.0825, 1.0850, 1.0875 and 1.0900
The rapid decline in the loonie has been a one-way trip so far this week and accelerated after yesterday’s weaker trade data and revision. Adam posted this .
Big levels up here but I wouldn’t want to be fading this one just yet with CAD weakening across the board.
Buyers now lining up at 1.0785 down to 1.0760 and then 1.0740
USDCAD Daily 8 Jan
