Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

USD/CAD Rallies To Above 1.2300, Highest Since 2009

Published 01/22/2015, 03:58 AM
Updated 02/07/2024, 09:30 AM

USD/CAD rallied to a high of 1.2393 on Wednesday, the highest since April 2009. The bias remains strongly bullish, with many technical indicators suggesting this. The market is above the Ichimoku cloud and the tenkan-sen and kijun-sen lines are positively aligned and pointing north. RSI is rising although it has entered overbought levels, suggesting a pause in the upward momentum in the near term.

Yesterday’s high of 1.2393 will act as immediate resistance. The next high the market would target would be the April 2009 high of 1.2712. To the downside, minor support is seen at 1.2050.

Overall the long term outlook is bullish, as long as the market remains above 1.1200.
USD/CAD Daily

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.