USD CAD Pops into Retracement Zone

The USD CAD is accelerating to the upside as a sharp break in theequity and commodity markets has triggered a flight to the Dollar.

The USD CAD is accelerating to the upside as a sharp break in the equity and commodity markets has triggered a flight to the Dollar.

Technically, this pair popped through a downtrending Gann angle at 1.0591 and a major 50% retracement level at 1.0598. 

The current upside momentum indicates this currency pair has a shot at reaching the .618 retracement price at 1.6907 today or tomorrow.