The USD/CAD pair fell on Thursday as oil managed to climb by the end of the session. The parity level still holds as support, and the market couldn’t break through. This area is where we need to see either a buy or sell signal. The Non-Farm Payroll number will certainly push this pair, and if it is a bad number, this pair will probably rise as the Canadian economy is so dependent on the US for its market. If the number is good – it will send this pair down. The parity level is crucial, and depending on which side of parity we close on – this could be you cue for the pair going forward into next week.
Written by FX Empire