USDCAD Weekly Forex Forecast – 26th to 30th June 2017
The USDCAD technical pattern is trapped in a very precise trading range, but the prevailing trend remains strongly bearish and in this case we’re more prone to break to the downside. The first level of resistance comes at previous week high 1.3347 and any rallies above this level should quickly fade away. The major support level remains 1.3167 while a break below will expose the 1.3000 big psychological number.
The stochastic indicator is in extreme oversold conditions so we might expect to see more ranges during the first day of the week. The Canadian economic calendar looks mild with no particular risk event scheduled so we should expect USDCAD to be technically driven.
Previous USDCAD Weekly Forex Forecast
USDCAD Weekly Forex Forecast – 26th to 30th June 2017
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