USDCAD REACHES 22-YEAR HIGH ON TARIFF NEWS, THEN PULLS BACK

USDCAD REACHES 22-YEAR HIGH ON TARIFF NEWS, THEN PULLS BACK
USDCAD REACHES 22-YEAR HIGH ON TARIFF NEWS, THEN PULLS BACK

USDCAD REACHES 22-YEAR HIGH ON TARIFF NEWS, THEN PULLS BACK

USDCAD surged to a 22-year high following the weekend tariff news, reaching 1.4792.

The pair corrected lower after stalling at the 50% retracement level of Friday’s move at 1.45808.

The 2020 high at 1.4660 is an important technical level for traders to watch.

The tariff news is fluid, creating uncertainty—potential for either a solution or further escalation in the trade/drug war.

A further move above 1.4660 could signal more upside, while a resolution may push the pair lower.