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USDCAD finds temporary support

02/01/2018

While the rest of the markets were hypnotised by the thrill ride that is Bitcoin (currently at $13,800 after bouncing between $10,700 & $19,400), the USDCAD ended 2017 looking a little unloved. The Make Capital 4-hour chart shows a fairly clear downtrend, although it should be borne in mind that this only equates to 3 cents, so it perhaps looks a little more dramatic than is really the case. Still, we've not been here for a couple of months and Bears will undoubtedly put the pressure on those buying at these levels. Although there has been some buying here, the charts do not make encouraging reading for USDCAD Bulls.

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