USD/CAD rose on Monday as the markets sold off risk in general. The oil markets fell uniformly across all grades, and as a result, the Canadian dollar got
USD/CAD rose on Monday as the markets sold off risk in general. The oil markets fell uniformly across all grades, and as a result, the Canadian dollar got hit because of the oil export relationship. The 1.03 area still acted as resistance though, and as a result – we like buying, but want to see a pullback at this point so we aren’t buying right into the resistance level. The selling of this pair doesn’t interest us at the moment as the “risk off” trade seems to be the norm these days.
USD/CAD Forecast December 13, 2011, Technical Analysis
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.
