Home Analysis USD/CAD jumped to month high

USD/CAD jumped to month high

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USDCAD jumped to month high - forexspacex.com

USD/CAD is on the bull’s screener after the most anticipated economic event of the month resulted in a strong rally in the U.S. dollar. The pair gained for the second consecutive month and is up by some 3% in the month of September. The buying interest for the safe-haven U.S. dollar remains strong after the rate hike announcement from Federal Reserve. A steep correction in oil prices this week has also acted against the Canadian dollar as Canada is the major exporter of oil to the United States. From a technical perspective, the momentum oscillators are in the overbought zone on the daily chart so we can expect minor consolidation going forward.

Pivot points to consider

NameS3S2S1Pivot PointsR1R2R3
Classic1.34731.34951.35071.35291.35411.35631.3575
Fibonacci1.34951.35081.35161.35291.35421.35501.3563
Camarilla1.35091.35121.35151.35291.35211.35241.3527
Woodie’s1.34671.34921.35011.35261.35351.35601.3569
DeMark’s1.35001.35261.3535

Ref link


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