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USD/CAD busts above 1.30 to the highest levels since June

March 19, 2018/0 Comments/in Technical Analysis, Uncategorized Echo_10 /by euitsols

USD/CAD hits stops on the break

Worries about NAFTA, trade and housing sparked rise in USD/CAD to the best levels since June as stops were tripped above 1.30.

The loonie has been weighed down this week by comments from BOC Governor Poloz and weighed down this year by unceasing worries about NAFTA. Those were fanned by a report about Trump making up stats on the trade deficit with Canada and talking about leaving NAFTA.

This could lead to a quick trip higher.

At the moment, this isn’t just a Canadian dollar story. The US dollar is bid right across the board.

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