TECHNICAL ANALYSIS

USDCAD trades at lowest level since October 2018


Rising oil prices help

The USDCAD fell sharply and, in the process, fell below the 2020 (and late 2019) low of 1.29508. The price rose 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. This is the next target on the daily chart. The price of oil jumped $ 3.86 or 10.34% to $ 40.98. Vaccine news is pushing funds into risk / commodity pairs, including USDCAD, AUDUSD and NZDUSD.

Rising oil prices help

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