The USD/CAD pair went back and forth during the session on Wednesday, eventually settling on a fairly neutral candle. The range was somewhat wide, but the body of the candle suggests there is no real conviction at this point in time. The market should continue to have a bid in it based upon the noise below, but the most significant area is the 1.04 level, an area that should provide support. The short-term timeframes could be used as entry points when signs of support show up on those charts. Selling isn’t an option.
Written by FX Empire