USD/CAD Asia Price Forecast: Greenback slumps below 1.4050 vs. Canadian dollar

USD/CAD retraces down sharply into the New York close.
USD/CAD is challenging the 1.4035 level.

USD/CAD four-hour chart

USD/CAD is tumbling and challenging the 1.4035 level near the 50 and 100 SMAs on the four-hour chart. As the move down was so abrupt a break below the mentioned level can lead to further losses towards 1.3975 and the 1.3900 figure. Resistance can be expected near 1.4070 and 1.4100 levels.

Resistance: 1.4070, 1.4100, 1.4150

Support: 1.4035, 1.3975, 1.3900

Additional key levels

May 14, 2020

AUD/USD breaking higher and away from the danger zone

As the USD drops, stocks rally, AUD is riding a bid in the commodity complex with the CRB index printing fresh highs on Thursday +2.7%. At the time of

Devamını oku Previous

May 14, 2020

COVID-19 death toll surpassess bleak milestone of 300k

As markets turn sour this week, the death toll of the coronavirus passes another bleak milestone with more than 300,000 people around the world that h

Devamını oku Next