The USD/CAD pair initially tried to rally on Monday but turned back around and slammed into the 1.30 level as well got a bit of a bid for the day.
The USD/CAD pair initially tried to rally on Monday but turned back around and slammed into the 1.30 level as well got a bit of a bid for the day. However, we recognize that there is a support “zone” between the 1.30 level and the 1.28 handle. In other words, we have no interest in selling this market and would rather buying supportive candles when they appear. However, if we were to break down below the 1.28 level, at that point in time we could be convinced to start selling again as it could signal a significant top in this market.
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.
