USDCAD falls after the latest tariff headline exempting Canada (and Mexico)

Technical Analysis

Author: Greg Michalowski | usdcad

There is still time to change his mind....

The USDCAD has fallen after the latest headline saying Canada would be exempt from the tariffs.  Be careful though, as there is still time left for a change before the announcement. Wink. Wink.

The price of the USDCAD has moved below the 100 hour MA at 1.2927 and also moved into the red for the day (below 1.2909).  There is room until swing lows are reached at 1.2881 and 1.2866. The lows on Monday and Tuesday were down at 1.28609 and the 200 hour MA and trend line cuts across at 1.2854 area (the 38.2% is also there). 

The USDMXN is lower as well with the trend line at 18.6133.

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