USD/CAD January 19th, 2021

The Canadian dollar dipped against the greenback on Monday, with investors dialing back hopes of improved U.S.-Canada relations after a report President-elect Joe Biden would cancel a permit for the Keystone XL pipeline as one of his first acts in office.

Biden is planning to cancel the permit for the $9 billion project, perhaps as soon as his first day, according to a source familiar with his thinking.  Immediate resistance can be seen at 1.2753 (50%fib), an upside break can trigger rise towards 1.2798 (61.8%fib).On the downside, immediate support is seen at 1.2731 (38.2% fib), a break below could take the pair towards 1.2691 (23.6%fib).

Take a Loan

Take a Trading Loan

Build Stock Portfolio

Deposit with up to 11% fixed interest rate

BINFXO Bank Trading Signals

Free Accurate Forex signal for non-members

Spread the love