USD/CAD, weekly trend line reached!

mario urlic forex usd-cad 13.01.

As I pointed in my USD/CAD analysis from January 08., the pair has reached the weekly trend line yesterday with high of 1.4314 and turned back today, for now to 1.4200, searching for the new buyers. This is the previous resistance and possible strong support,  all the way to 1.4170. The bigger buyers are waiting at 1.40. On the way up, this trend line must be broken for furder gain toward 1.44 > 1.45, but keep your focus on oil price, you know that CAD robustly maintains the highest oil correlation in the forex market.

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