Oil price rise helping
The USDCAD has pushed sharply lower and in the process has moved below the 2020 (and end of 2019 low) at 1.29508. The price has moved to a low of 1.29274. The price is trading at the lowest level since October 2018. The October 16, 2018 low reached 1.2915. That is the next target on the daily chart. The price of oil has surged $3.86 or 10.34% to $40.98. The vaccine news is pushing funds into the risk/commodity pairs including the USDCAD, AUDUSD and the NZDUSD.
