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.
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.
