The USD/CAD pair initially tried to rally during the session but continues to find the 1.36 level to be far too resistive. Because of this, looks like we
The USD/CAD pair initially tried to rally during the session but continues to find the 1.36 level to be far too resistive. Because of this, looks like we are to pull back a little bit as oil markets rallied. I think the 1.35 level underneath will be supportive, so I would look for buying opportunities in that general vicinity. Alternately, if we can break above the recent high, that should send the market to more of a “buy-and-hold” type of attitude. I have no interest in shorting, this is a market that should continue to go higher.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
