USDCAD reaches in the next downside target at the October 2018 low

Technical Analysis

Author: Greg Michalowski | usdcad

October 2018 low price at 1.27818 is being tested.

The USDCAD is within a few pips of the October 2018 low at 1.27818. The low price just reached 1.27848.

October 2018 low price at 1.27818 is being tested.

A move below that level will take the price to the lowest level since May 22 (see earlier post). 

The USDCAD has been marching down since the better-than-expected employment report out of Canada today.  Higher oil prices are also helping the loonie (hurting the USDCAD). 
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