By Peter Stoneham — Apr 28 - 05:48 AM
• Big dollar set for a big down month vs the loonie
• Potential for a third consecutive monthly decline
• Support at the 20-month moving average, 1.3816, being tested
• A breach of the average could bring the monthly cloud into play
• Monthly cloud parameters are 1.3172 and 1.3338
• September 2023 low at 1.3420 ahead of the cloud top
• Weekly action sideways and dailies mildly bullish
USD/CAD Monthly Candle/Ichimoku Chart:
(Peter Stoneham is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters
