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Wednesday, May 25, 2022

USDCAD hits the retest zone and the higher low zone
1 mins well spent

USDCAD Analysis

USDCAD has broken the downtrend line before few days and then it came back to retest the broken level.

USDCAD is moving in an uptrend by forming higher highs and higher lows.

USD is fundamentally weaker now. 

Canadian Dollar rises as Crude oil prices rising further as hopes of the massive stimulus package by Biden Presidency.

Oil prices rallied as the US economy will recover soon than expected and also Saudi plan of cuts the oil production extends to March 2021.

And US Dollar declines as Last week disappointing Payrolls numbers.

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