USDCAD-opposite to the safe heaven assets

USDCAD

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The CAD movement is mostly based on the movement in oil market.

As the Canada is one of the major oil exporting countries and their economy is also depends on this type of oil based industries

After touching the march low which is 1.33250 it has reached almost 1.40000 level

We can expect short term fall back towards 1.36400 which is also a 50% Fibonacci

Suitable long positions may opened at this level

Potential take profit will be 1.40000

Stop lose may placed below the 100 EMA zone as i marked in the chart

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