USD/CAD analysis: Selling signals
|USD/CAD
The US Dollar plunged by 111 pips or 0.83% against the Canadian Dollar on Wednesday. The currency pair breached the weekly support level at 1.3259 during Wednesday's trading session.
Technical indicators suggest selling signals on all time-frame. Most likely, sellers will continue to pressure the USD/CAD exchange rate lower during the following trading session.
On the other hand, the currency exchange rate could reverse from the current price level at 1.3234 and target the 50– hour simple moving average today.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.