As we can see in the chart, USDCAD appears to be topping as blocked by the downtrend channel. It would be more likely to fall.
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Monday, June 7, 2010
1st G-7 Country this year (2010-06-07 USDCAD analysis)
Canada is the first G-7 country to raise interest rate. As we can see, USDCAD rallied in the last few days meaning a plunge in CAD. Given the crisis warning in Hungary which led to panic tumble in most currencies against USD, CAD, however, might be able stand still and surged.
As we can see in the chart, USDCAD appears to be topping as blocked by the downtrend channel. It would be more likely to fall.
As we can see in the chart, USDCAD appears to be topping as blocked by the downtrend channel. It would be more likely to fall.
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