The USD/CAD pair initially tried to rally during the course of the day on Friday, but turned back around as we ran into a significant amount of
The USD/CAD pair initially tried to rally during the course of the day on Friday, but turned back around as we ran into a significant amount of resistance. Ultimately though, the 200 day exponential moving average above is going to be targeted, and a break above that would signify a potential long-term set up. With this, it’s likely that the market will see a bit of volatility, but you also have to keep in mind that the oil markets will have quite a bit of influence on this pair going forward as usual.
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.
