The US dollar gains lightly against the Canadian dollar after falling precipitously on Wednesday. The 1.33 level offering support, and of course the fact that the oil markets looks so soft will continue to work against the value of the CAD anyway. Because of this, believe a break above the top of the hammer for the session on Thursday should be a nice buying opportunity as we will then reach toward 1.35 above. Every down below the bottom the humor course would be slightly negative, as we would go looking for support near 1.32.
Written by FX Empire