The USD/CAD pair fell during the session on Tuesday, slicing through the 1.12 level. However, there is a significant amount of support below, going all
The USD/CAD pair fell during the session on Tuesday, slicing through the 1.12 level. However, there is a significant amount of support below, going all the way down to the 1.11 level and possibly even lower than that. Ultimately, we do believe that this market goes higher as the oil markets are certainly doing nothing to help the Canadian dollar overall. However, we recognize that in the face of this rather bearish candle, we could get a little bit more of the selloff and therefore we are not willing to start buying quite yet.
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.
