Low from last week at 1.3398/Trend line at 1.3401
The USDCAD is testing an upward sloping trendline a 1.3401. The low from last week came in at 1.3398. The combination is being tested as the USD corrects in trading today. Crude oil prices are trading up $1.28 or 2.8% to $47 per barrel. This too is helping to support the CAD (keep the USDCAD under pressure).
Forex technical analysis: USDCAD tests trendline/lows from last week
