1.30 being threatened in USD/CAD - Forex News by FX Leaders

1.30 being threatened in USD/CAD

Posted Monday, May 9, 2016 by
Skerdian Meta • 1 min read

USD/CAD has been in a downtrend since mid-January. But, last week the trend reversed, at least that´s what it looks like right now, and the price is about 550 pips up from the lows. It just touched 1.30 a couple of hours ago but didn´t break above it. It still is very close to 1.30 so feels like it will break it sooner rather than later. The 50 MA in yellow in the daily chart is just above where the price is right now so we´ll see if it is strong enough to hold the price below.

The price is just below 1.30 so it´s only a matter of time before it breaks above this round level

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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