Sasha Singh
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USDCAD : CAD Gaining Strength

(USDCAD : Daily Chart)

USDCAD is showing some big moves today breaking below the 200 day SMA. Earlier the Canadian Dollar was falling down against US dollar because of the decline in Inflation in 2013 resulting in the rise in US yields. Seems like now the strong Retail and Inflation data is providing support to the currency and pulling the pair down.

On the Daily chart the pair seems like trading within a downward sloping channel so the pair might surge within this channel but the trend still seems bearish for long term. So we might see some gains in Canadian Dollar.