Technical Analysis

New highs for the USDCAD on Fitch downgrade

Tests swing levels going back to June 16

The USDCAD has moved to new session highs after the news that Fitch downgraded Canada debt to AA+. The outlook is stable.

Looking at the hourly chart, the pair is testing the swing area at 1.3615 – 23 area. A move above that level opens up the door for further upside potential.

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