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.