what will be the next move on Usd cad

what will be the next move on Usd cad

what the past could tell us on the Ways to Make the Best of Usd cad

You'll note on the outline that the estimated level held as backing at the major 2008-2009 highs in the usd/cad and again in mid-2015 appear again.
Since late January, the coin pair has slid in a precarious downtrend from its long haul highs close to 1.4700.
Taking after the July break up underneath this level, the usd cad tried the level in October. The previous decade-long backing surely demonstrated to now be resistance as the usd cad fizzled definitely at the breakdown level. As said, the cash continued to drop a further 12% drop in January. After 3 months, it has now mobilized back to the area break up range once more. Will this level serve as support. While the way that level has served as a 10-year turn point is unquestionably the best motivation to anticipate that the level will go about as resistance, it isn't the main reason. We would anticipate that this zone will give, at any rate, beginning, staunch resistance for the Canadian Dollar. Assuming this is the case, it might be characteristic of a more extensive hindrance in the worldwide "reflation" exchange that remaining parts essentially presently. On the off chance that the Canadian Dollar comes up short conclusively at this level, and other related resources go with the same pattern, usd cad might secure the post-January bounce

From technical side on usd cad  let's look at the charts:

On all my usd cad  posts  I was talked on the long term moves and try to Draw conclusions for the future on this pair ,my assumption that now if 1.2760 area will not hold we are going to see more deep moves to 1.2480-1.2530 area and from those level we can get bonce to 1.33 area

usd cad 

Don’t forget the connection between the crude oil prices to cad, yesterday Oil move above $42 a barrel settle at their most elevated amount of the year, floated by a report that said Saudi Arabia and Russia have achieved an arrangement to stop generation in front of a meeting of real oil makers this weekend, if this correlation will continue to be tight we should expect for more moves on the usd cad ,if if the pair could now be focusing on the following real drawback bolster level around 1.2530, on any proceeding with oil bounce back. 

cad usd

Final words:
Let's test the Canadian dollar compatibility we will see oil prices the past weeks when the currency follows strong moves by the expectation, at the moment I expect for radical moves
don't surprise if  the amendment to the level of 1.24-25 will bring big corrections  but  if oil will move more than that we need to expect even stronger repair more at the level of 1.19

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice