The USD/CAD pair fell apart during the session as the central banks of the major economies around the world have agreed to cut the cost of swapping Dollars in order to fund banks. The end of the day produced a bit of a bounce, and showed that the 1.02 wants to push the pair back up. The pair has reentered the consolidation area between the 0.99 and 1.03 levels, and as a result we aren’t trading it at the moment. A break above 1.03 would have us buying, while a break below the 0.99 handle would have us selling.
Written by FX Empire