USD/CAD fell during the course of the session on Tuesday, testing the 1.12 level. This is an area that is an area we anticipated to see a significant
USD/CAD fell during the course of the session on Tuesday, testing the 1.12 level. This is an area that is an area we anticipated to see a significant amount of support at, and we most certainly did see that. We bounce slightly, but we believe that there is a significant amount of support all the way down to the 1.11 handle. Because of that, we think that the uptrend is still in a fact, and have absolutely no interest in selling. We believe that the 1.14 level will be targeted, and then possibly the 1.15 level.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.