The USDCAD pair may test the 1.2 level in the short term

April 28, 2015

Sell on a level breakthrough of 1.2083 with 1.2000 target. Stop loss = 1.2140.

Reason for the trading strategy
The weakness of the US dollar against the euro puts pressure on the USD/CAD pair, despite the adjustment of the WTI crude oil prices to $56 per barrel. In the coming days the likelihood of the pair testing the 1.2 level is high. Today, the publication of the Conference Board consumer confidence index in the US may provide little support for the world's reserve currency.

USDCAD, H4

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