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.
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.
