The USD/CAD pair broke higher during the course of the session on Wednesday, breaking above the 1.31 handle handily. We believe that the market will
The USD/CAD pair broke higher during the course of the session on Wednesday, breaking above the 1.31 handle handily. We believe that the market will continue to find buyers every time it dips, especially considering that the oil markets show so much in the way of weakness. Remember, the oil markets highly influence what happens with the Canadian dollar, and with them falling, and the US dollar strengthening, it makes perfect sense that this pair continues to go higher. We have no interest in selling, and believe that the 1.28 level is now the “floor.”
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.
