crude oil woes

USD/CAD is Trading Flat, Albeit Having Retained Hold above the 1.40 Handle

USD/CAD Hourly (H1) Chart

USD/CAD: The pair is trading flat, albeit having retained hold above the 1.40 handle for the short term. Improved risk sentiment in the market and recovery in crude oil prices has put a halt to USD’s momentum. But USD still holds firm on account of lingering caution and safe-haven demand in the market over renewed small scale bloom of covid-19 outbreaks across the globe. For now, the price keeps oscillating around 1.40 handle falling below the mark on multiple occasions. Traders are waiting for U.S. senate update and macro data for short term directional cues & profit opportunity. 

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