NEWS
Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Thu May 22, 2014 09:03 AM CDT

Since reaching a low of $.8845 CAD/USD March 20, the Canadian dollar rallied 4.4% or 395 points to reach a high of $.9240 CAD/USD March 8. The market has since run out of steam, which resulted in an initial breach of trendline support in Tuesday's trade, while Wednesday's trade started with an open below trendline support with trade ending 18 basis points lower at $.9155 CAD/USD.

Technical signs on the daily chart indicate the possibility of further weakening. As shown on the second study on the attached chart, stochastic momentum indicators posted a bearish cross-over of indicators while in the ...

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