USD/CAD Enters into Consolidation around the Mid-1.34 Handle

USDCAD Hourly (H1) Chart
USDCAD Hourly (H1) Chart

USD/CAD: The pair has entered into consolidation around the mid-1.34 handle as USD remains firm on broad-based risk currency sell-off and demand for safe-haven assets, but it failed to establish rally owing to pressure from declining US T.Yields. Sharp fall in crude oil price across the week keeps Loonie weighed down. Traders now await Canadian GDP and US data for short term profit opportunities. 

Please feel free to share your thoughts with us in the comments below. 

TOP BROKERS

Latest News

The multi-regulated CFD broker with 180+ products BRIEF INTRODUCTION The Vantage Group of Companies was incorporated in 2009 by a

A comprehensive analysis of an award-winning broker BRIEF INTRODUCTION Samtrade FX is incorporated in Saint Vincent and the Grenadines under

The Israeli-based multi-asset company with 2000+ products BRIEF INTRODUCTION Plus500 is a trademark of Plus500 Limited, an Israel incorporated firm

BRIEF INTRODUCTION Pepperstone, founded by Owen Kerr and Joe Davenport, is an FX and CFD broker based out of Melbourne,

An in-depth analysis of the top Australian forex broker Introduction to the top CFD broker IG Markets Ltd is the

The tier-I regulated broker with the lowest spreads in the industry BRIEF INTRODUCTION IC Markets is the trading name of