All Forex, Technical Analysis, USD/CAD

USD/CAD is Trading Positive, as the Crude Oil Price falls Below $25

USD/CAD: The pair is trading positive, having regained hold above 1.45 handle as the crude oil price fell below $25 handle. However, USD’s weakness in the broad market keeps the pair below mid-1.45 handle for now. The escalation in Saudi-Russia price wars could weaken the crude oil price further, in which case USD is likely to reach as high as the 1.50 handle in the immediate future. For now, traders await Canadian data and US headlines for short term profit opportunities.

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TAGS: CoronaVirusPrice War Technical analysis

Karthik Subramanian
March 24, 2020

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