Forex
Loonie Leads G10 Currencies Despite Oil Price Rout
The Canadian dollar has been making waves in the currency market, emerging as the top-performing G10 currency this week.
As the USD/CAD pair dropped 56 pips to 1.4005, it brought some notable levels into play.
One such level is the big figure of 1.4000, with recent lows at 1.3990 and 1.3982 also in focus.
The 1.3982 level holds significance as it was the 38.2% retracement level from the May-June rally, making it a key point to watch.
Breaking below this level could see targets at the 50% retracement of 1.3899 or even the 61.8% retracement of 1.3817.