The USD/CAD pair fell on Friday as the better than expected Non-Farm Payroll numbers had the market comfortable with taking risk. The Canadian dollar rose to the point that we have cleared the parity support area, but are currently sitting just above the 0.99 level. This area continues a long series of support levels all the way down to the 0.9750 level. With this in mind, we favor a short move – but know that there are much more clean markets in which to trade. Currently, we are ignoring this pair until sub-0.9750 becomes a reality.
Written by FX Empire