There are two dominant themes that it is important to understand when analyzing the Canadian Dollar from a fundamental standpoint. The first, as its designation as a commodity currency implies, is the fact that exports of natural resources (especially gold and oil) make up a significant part of the Canadian economy. This is important to understand because as Canada is the world's 14th largest producer of oil and 5th largest producer of gold, the price of these and other commodities normally has ...
Daily price is located above 100 SMA/200 SMA reversal zone on the bullish area of the chart within the following support/resistance levels: 1375.11 resistance located far above 200 SMA in the bullish area of the chart, and1305.46 support level located in the beginning fo the secondary correction. If the price will break 1375.11 resistance level so the primary bullish trend will be continuing. If the price will break 1305.46 support level so the local downtrend ...
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Monthly price is on breakdown: the price was bounced from 200 SMA to below with 1.7132 support level to be broken for the bearish breakdown to be continuing.
D1 price is on bearish breakdown with 1.6682 support level to be broken for the bearish trend to be continuing. Alternative, if the price breaks 1.7140 resistance level to above so the local uptrend as the bear market rally will be started.
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