The USD/CAD pair rallied on Monday, as there was a bit of a “risk off” trade after the North Koreans tested a nuclear bomb. However, the market has recently seen a significant amount of bearish pressure, and I don’t think that’s going to change anytime soon. Because of this, I’m looking for exhaustion to start selling again, and this will only increase if we see oil markets pick up a bit of a bit. Ultimately, I think that the interest rate expectations between the 2 countries should continue to push this market lower,
Written by FX Empire