The USD/CAD pair went back and forth during the session on Wednesday, as we continue to grind away near the 1.04 handle. This area has been both support and resistance previously, and it now looks like this market is simply trying to take a little bit of a break in the meantime. With that being the case, it’s very easy to make an argument for simply sitting on the sidelines until we break above the 1.0450 handle to the upside, or below the 1.03 handle to the downside. Until then, this is all noise.
Written by FX Empire