The USD/CAD pair broke higher during the course of the day on Wednesday, as it looks like we are ready to try to reach towards the 1.30 level. This is an
The USD/CAD pair broke higher during the course of the day on Wednesday, as it looks like we are ready to try to reach towards the 1.30 level. This is an area that should be massively resistive though, but the interesting thing about this area is that if we break above it, the longer-term uptrend should continue. At this point, it looks like there is plenty of buying pressure so we could see buyers reenter this market on short-term dips. Pay attention oil that of course will have quite a bit of influence as well.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
