Tag Archives: canadian dollar commodity play

Canadian Dollar Selling Opportunity at $.80 to the U.S. Dollar

The Canadian Dollar is primarily a commodity based currency. Whether the commodity is being  extracted, processed or exported, the commodity itself touches a lot of Canadian hands on its way out the door. As such, it’s not surprising that the recent commodity rally has sparked a bid in the Canadian Dollar just as the oil and grain washout contributed to its oversold condition at the beginning of this year. This week, we’ll look at some fundamental background, then illustrate the current situation and the setup we see coming on the included Canadian Dollar weekly and daily charts.

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