The USD/CAD pair had a very negative week, pulling back from the 1.35 level. This is a market that’s been grinding higher for some time, and of course the
The USD/CAD pair had a very negative week, pulling back from the 1.35 level. This is a market that’s been grinding higher for some time, and of course the recent rise in the oil markets have given strength to the Canadian dollar. We have also broken down below the bottom of the previous 2 hammers, so that’s a very sign as well. I believe that the 1.32 level will be supportive though, so with this being the case it’s very likely that we should find buyers sooner rather than later.
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.
