The USD/CAD pair initially fell during the course of the day on Wednesday, but found enough support below to turn things back around and test the 1.25
The USD/CAD pair initially fell during the course of the day on Wednesday, but found enough support below to turn things back around and test the 1.25 level. If we can break above the top of the range for the session, the market should then march towards the 1.27 level, and pullbacks should continue to be bought as there is more than enough buying pressure underneath. The US dollar in general looks very positive and well supported overall, so we are bullish and have no interest in selling this market, at least until we get below the 1.22 level.
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.
