USD/CAD initially rose during the Monday session, but as you can see by the shape of the shooting star for the trading day, this pair failed to break out and essentially just filled the slight gap from the open over the weekend. With this being said, it does look like this pair is going to continue to trend lower. In fact, on a break of the lows from the session on Monday, we are more than willing to start selling again as we think that this pair will eventually reach for the 0.97 level.
Written by FX Empire