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Apr 12 - 05:55 PM

USD/CAD - Downtrend From March Peak Threatens Breakdown To 2023'S Lows

By Randolph Donney  —  Apr 12 - 04:05 PM

  • USD/CAD slides back toward April's 1.34065 low, just above the 200-DMA

  • Also 100%-Fibo projected prop at 1.3401 off 1.3860-361 March 10-23 drop

  • A close below 1.3400 would open the way for retesting 2023's 1.32635 low

  • That low also by the 161.8% Fibo off March's 10 trend high, at 1.3260

  • Secondary target is Nov's 1.3226 low 7 38.2% of 2021-22 rise at 1.3224

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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