Pres. Trump to put 25% tariff on Canada and Mexico The USDCAD spike higher

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The USDCAD has run higher on the news with the price spiking to a high of 1.4594. That took the price above the high price from last Tuesday at 1.4514. The prices currently trading at 1.4535 in volatile trading. Staying above the 1.4514 is a bullish clue.

The price is also extended outside of the “red box”, that has defined most of the trading range going back to December 17. The high of that red box comes in at 1.4466.

This article was written by Greg Michalowski at www.forexlive.com.