GOLD: up to $1,600?
Coronavirus keeps disturbing China, and the world. Consequently, gold keeps rising. Reaching $1,600 is "if" or "when"?
USD/CAD is under short-term pressure
Information is not investment advice
USD/CAD broke below 1.3370 on Friday. This level will provide the short-term resistance for the pair acting as a neckline for the “Double top”. As long as the price stays below this level, the near-term focus will be on the 100-day MA at 1.3310.
The advance above 1.3370 will open the way up to 1.3430 where USD/CAD will meet resistance provided by the line connecting March highs.
Elizabeth Belugina
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