The USD/CAD pair attempted to rally during the session on Friday as the Non-Farm Payroll numbers came out as expected in the United States. The pair failed though, and as a result formed a shooting star. The pair currently sits just below the parity level, and it looks as if we are ready to continue lower. The market will continue to drift lower in our opinion, but the pair has a lot of noise below current levels, so we think this move will be choppy at best. As for buying, we aren’t interested at this point.
Written by FX Empire