USDCAD Chart Technical Outlook

USDCAD Chart Technical Outlook offers better risk exposure on selling high, 1.3665 eyed

USD/CAD’s recent bias is bearish. USD is under pressure after the recent data on inflation and labour market. Rising Oil prices can support CAD. Fading a rally offers a better risk-reward ratio. The pair has upside barriers at 1.3640 and 1.3665. Supports are located at 1.3590 and 1.3560.

Today’s calendar is light except for Fed speakers. Some European markets are closed, and Canada is on holiday, too. I expect sideways or upside corrective price action with value setups on selling high.

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