Mar 17, 2020
USD/CAD Price Analysis: Dollar on fire, shoots to 4-year highs, breaking 1.1400 figure vs. CAD
- USD/CAD is trading near levels last seen in January 2016.
- USD/CAD is breaking above the 1.1400 figure.
USD/CAD monthly chart
USD/CAD is soaring to levels not seen since January 2016 as the quote broke above 1.1400 figure. The oil collapse is driving the Canadian dollar down and USD/CAD up. Additionally, broad-based USD strength is pushing the currency pair higher.
USD/CAD four-hour chart
USD/CAD is having the largest spike in five years as buyers broke above the 1.3972/1.4000 resistance zone. The break above the above-mentioned level can see USD/CAD run extend to the 1.4219, 1.4322 and 1.4500 levels according to the Technical Confluences Indicator. Support can be expected near 1.4115 and 1.4060 levels.
Resistance: 1.4219, 1.4322, 1.4500
Support: 1.4115, 1.4060, 1.4000
Additional key levels