The USD/CAD pair went back and forth during the week, and started to test the 1.30 level. This of course is a large, round, psychologically significant
The USD/CAD pair went back and forth during the week, and started to test the 1.30 level. This of course is a large, round, psychologically significant level, and will attract a lot of attention. This pair is highly sensitive to the price of oil, and with the selling pressure seen in those markets, it makes sense we go higher. We believe that the 1.32 barrier will be broken, as the longer-term strength should continue to make itself known again and again as the commodity markets remain very soft, with oil being no different.
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.
