Canadian Dollar Forecast: USD/CAD Supported on Softer Oil Prices
Canadian Dollar Forecast: USD/CAD Supported on Softer Oil Prices
Source: dailyfx.com
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Canadian Dollar Forecast: USD/CAD Supported on Softer Oil Prices
AUD/JPY rates are in the midst of a bullish falling wedge breakout, while AUD/USD rates have returned into a consolidation.
USD/CAD may attempt to test the 50-Day SMA (1.2861) for the second time in July as it extends the decline from the yearly high (1.3224).
The Canadian Dollar may weaken further against the US Dollar now that crude oil prices are seemingly on the decline. What are key levels to watch for in USD/CAD?
Risks remain tilted to the downside for the Australian Dollar.