CAD taking it on the chin

Pres. Trump is piling on the Canada dairy farmers now and it is having an negative reaction in the USDCAD. The pair is making new day highs and is testing the December high at 1.35978. Key level for the pair.

Pulling back and looking at the weekly chart, the pair is back above the 50% of the move down from the 2016 high That comes in at 1.25746 and will now be a risk level for the longs. ON the topside from this chart the 1.3638 and 1.3652 (swing low levels from 2016 become targets on a break higher. They represent the lows from the Jan 31, 2016 and Feb 12, 2016 weeks respectively.