The USD/CAD pair tried to rally on Wednesday again, but again found quite a bit of resistance above. Part of this would’ve been due to the volatility in
The USD/CAD pair tried to rally on Wednesday again, but again found quite a bit of resistance above. Part of this would’ve been due to the volatility in the oil market, and it now looks as if we will continue to find choppiness. I believe that the previous uptrend line still offers quite a bit of support, so if we can break above the top of the shooting star that formed on Wednesday, the buyers should overwhelm the market and reach towards the 1.35 handle. A break down below the 1.31 handle house the market reaching towards the 1.30 level under that.
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.
