USD/CAD extends slide below 1.4200 as CAD soars

  • Risk sentiment boosts Loonie; crude oil up more than 3% and Dow Jones 5.5%. 
  • USD/CAD drops almost 300 pips on Wednesday, on the best day for CAD in years. 

The USD/CAD broke below 1.4300 during the American session and more recently fell under 1.4200. As of writing, trades at the lowest level since Friday at 1.4190, down 270 pips from Wednesday’s close. 

The loonie is the biggest gainer among G10 currencies on Wednesday supported by the improvement in risk sentiment and also the recovery in crude oil prices. In Wall Street, the Dow Jones as up by more than 5.5% and the Nasdaq 2.40%. 

Another key factor behind CAD’s rally is the 3% gain in the WTI barrel. It rebounded near $23.00, rising toward $25.00. Crude oil prices are offering signs of stabilization around current levels. 

Data to be released on Thursday includes US initial jobless claims that are expected to show  big increase. In the Canada, the media reported that almost one one million Canadians applied for jobless claims last week, about 5% of the labor force.


Today last price 1.4218
Today Daily Change -0.0246
Today Daily Change % -1.70
Today daily open 1.4464
Daily SMA20 1.3827
Daily SMA50 1.3457
Daily SMA100 1.3313
Daily SMA200 1.3255
Previous Daily High 1.4533
Previous Daily Low 1.4375
Previous Weekly High 1.4668
Previous Weekly Low 1.3788
Previous Monthly High 1.3465
Previous Monthly Low 1.3202
Daily Fibonacci 38.2% 1.4435
Daily Fibonacci 61.8% 1.4472
Daily Pivot Point S1 1.4382
Daily Pivot Point S2 1.43
Daily Pivot Point S3 1.4224
Daily Pivot Point R1 1.4539
Daily Pivot Point R2 1.4615
Daily Pivot Point R3 1.4697



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