The USD/CAD pair rose during the session on Monday, breaking above the 1.25 level. However, this is an area that continues offer a bit of resistance
The USD/CAD pair rose during the session on Monday, breaking above the 1.25 level. However, this is an area that continues offer a bit of resistance though, so really this point in time even though it looks as if the US dollar is going to try to continue to go higher, it certainly seems like it’s going to struggle doing so. Ultimately, we believe that this market will continue to be volatile, so unless you are thinking more of a longer-term trade, it’s probably not worth bothering with at this point in time.
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.
