Price & Time: USD/CAD – It’s Showtime

USDCADDDD

Focus is primarily on the commodity currencies this week – USD/CAD NZD/USD. As the derivatives put another leg down , those currencies are either in trend or near resistance.USD/CAD is potentially the more interesting one of the two as it is closing in on some important long-term resistance into the key dates at the end of the week.First things first, let’s see how USD/CAD responds over the next few days. A clear price action failure around 1.3460 would be enough to turn me negative on the exchange rate, while strength after Monday over 1.3460 will force a bit of a reassessment heading into the second half of next week.

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