The Canadian Dollar has begun reversing some of its September losses as risk appetite returns to the market. In the case of USD/CAD, recent USD weakness has seen the pair fall to support around the 1.3200 mark – an area that has consistently provided some degree of influence whether support or resistance. This time around, the area could be the last level of notable buoyancy until secondary support around 1.3139. USD/CAD PRICE CHART: 4 – HOUR TIME FRAME (JULY 2020 – OCTOBER 2020) Therefore, a break beneath 1.3200 could open the door for an extension lower which would see USD/CAD move to its lowest level in … (full story)
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