The US dollar had a choppy session against the Canadian dollar, as we continue to grind higher. However, there is an uptrend line that had recently been broken on the weekly chart’s above, and that should offer plenty of resistance. I’m looking for reason to start selling this market, and if we can get it, I would be very interested in trying to play the longer-term downtrend. Alternately, a break above the 1.25 level would be very bullish. I expect a lot of volatility in this pair, so patience will be needed.
Written by FX Empire