The Canadian Dollar (CAD) found fresh lows on Friday as broader markets continues to pivot into the Greenback. A slight miss in US Retail Sales was all it took to bolster the and send USD/CAD into fresh multi-year highs.Canada continues to remain absent from the economic calendar this week. A week of strictly low-tier, low-impact data has left the Canadian Dollar on the ropes, but next week’s Canadian (CPI) inflation print is unlikely to change matters much. Daily digest market movers: Canadian Dollar waffles to fresh 54-month low
Canadian Dollar price forecastThe sky’s the limit as the Canadian Dollar (CAD) continues to shed weight against the Greenback; USD/CAD’s fresh push into multi-year highs has the pair testing bids just shy of 1.4100. The pair is on pace to close in the green for a sixth consecutive trading day as the CAD recedes against the US Dollar.The nearest technical floor sits at the last swing low, lined up nearly perfectly with the 50-day Exponential Moving Average (EMA) near 1.3780. USD/CAD daily chart(Click on image to enlarge)More By This Author:
