Is USD/CAD topping out (and oil bottoming) ? CMC Markets 21 January 2016
Channel: CMC Markets plc
Date: 2016-01-21

Market Analyst, Jasper Lawler looks at the  first down day in 13 days yesterday for the USD/CAD alongside a double top in the daily RSI as possible indications that the currency pair may be about to retrace from overbought levels.
 
Because of the strong correlation between the Canadian dollar and oil price, this could also point to a short-term base in West Texas crude oil around $27 per barrel

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