USD/CAD Outlook (4 July 2022)
Approach the USDCAD with flexibility...
The USDCAD has been reacting to the 1.29 level with volatility. Through Friday's trading session, the USDCAD broke above 1.29 due to strength in the DXY.
Current trading lower from the resistance of 1.29, I am anticipating further upside on the USDCAD with recent weaker than expected economic data releases for the CAD
Price could retest the 1.28 support before rebounding up, or, a downward move could be stalled to break higher from 1.29.
The USDCAD has been reacting to the 1.29 level with volatility. Through Friday's trading session, the USDCAD broke above 1.29 due to strength in the DXY.
Current trading lower from the resistance of 1.29, I am anticipating further upside on the USDCAD with recent weaker than expected economic data releases for the CAD
Price could retest the 1.28 support before rebounding up, or, a downward move could be stalled to break higher from 1.29.
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