December 6, 2022

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USDCAD test the low from May. Trades to lowest level since May 2015

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Trades toward the extreme low from May

The USDCAD just traded to new low going back to May 18. The low on that day reach 1.20122. The low price today has extended to 1.2009 so far – just below that low. 

Trades toward the extreme low from May

The move lower has taken the price to the lowest level since May 2015.  However, the price is bouncing modestly.  If the price moves back above the 1.20269 to 1.20296 swing area, there could be more upside probing as shorts are disappointed with the new multiyear low.   

USDCAD on the weekly chart

Crude oil prices are up to dollars $2.18 today or 3.3% at $68.53. That is the

Crude oil

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