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.
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.
