The USD/CAD pair broke out during the week, clearing the 1.36 handle. This is a major development, and it now looks as if the market is going to continue
The USD/CAD pair broke out during the week, clearing the 1.36 handle. This is a major development, and it now looks as if the market is going to continue to go much higher. I believe that the 1.40 level above will be targeted, and then eventually the 1.45 handle. If oil markets fall apart, that would be very negative and destructive to the Canadian dollar. I have no interest in shorting this market currently, and recognize that the buyers are very much in control of this currency pair currently.
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.
