The USD/CAD pair initially rallied during the session on Thursday, but found the area above to be a bit too resistive, and therefore formed a shooting
The USD/CAD pair initially rallied during the session on Thursday, but found the area above to be a bit too resistive, and therefore formed a shooting star. However, we see a bit of support below to keep this market somewhat afloat, so quite frankly we feel that this is a market that can be difficult to buy or sell anytime soon. After all, the oil markets are still very volatile, and that of course has a massive amount of influence on the value the Canadian dollar itself. We will of course keep an eye on this pair.
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.
