USD/CAD Continues to Trade with Dovish Bias Today


EURUSD Hourly (H1) Chart
EURUSD Hourly (H1) Chart

USD/CAD: The pair continues to trade with dovish bias today and even declined below 1.34 handle for a brief period. However, inherent weakness stemming from Crude oil stockpile related dynamics affected CAD to a certain extent allowing USD to move back above the 1.3400 mark. For now, traders now EIA weekly US stockpile data and other US macro data for short term profit opportunities while dovish USD provides clear directional bias in favour of Loonie. 

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