USD/CAD: Bears look to October 2018 low on pullback from previous support
USD/CAD renews downside momentum after reversing from 12-day-old resistance line, previous support. The quote trades near the lowest since October 3, 2018, flashed on Thursday. The pair recently bounced off the multi-day low of 1.2852 before stepping back from the previous support line stretched since November 18, near 1.2880 now.
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SPECIAL WEEKLY FORECAST
The Canadian Dollar scored a trifecta this week with crude oil prices rising to their best level since the March pandemic advent, favorable technical indicators and the continuing aversion to the American currency from the still rising COVID-19 count in the United States.