USD CAD weekly : watch 1.2929 support for another breakdown

usd cad forex technical analysis for 21 to 25 march 2016

usd cad forex technical analysis for 21 to 25 march 2016

Usd cad forex pair this week closed with loss. This was ninth losing week for us dollar against Canadian loonie. Cad recovered from lows of 1.47 to highs of 1.30!!   On weekly chart, usdcad pair price trend is still bullish but momentum is very weak on strong profit booking in US dollar. On downside usd cad support zones are 1.2920 and 1.22 while on upside 1.3350 and 1.3550 are resistances as well as stop loss levels for short sellers.

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