The USD/CAD pair rallied on Thursday, as we continue to see quite a bit of bullish pressure in this market. The 1.34 level of course is a large, round,
The USD/CAD pair rallied on Thursday, as we continue to see quite a bit of bullish pressure in this market. The 1.34 level of course is a large, round, psychologically significant number, but I believe that the market is going to continue to go higher, perhaps reaching towards the 1.35 handle. A pullback from here should be thought of as value, and if the oil market breaks down as it looks like it could, that could continue to push this pair much higher. The market breaking above the 1.36 handle would continue the longer-term uptrend.
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.
