crude oil woes

USD/CAD is Trading with Clear Dovish Bias

USD/CAD Hourly (H1) Chart
USD/CAD Hourly (H1) Chart

USD/CAD: The pair is trading with clear dovish bias as positive crude oil price in the broad market and vaccine cues helped CAD gain strength. Escalating Sino-U.S. tensions and economic development in the USA add pressure on USD which for now remains supported by prevalent cautious market tone albeit slowly losing strength. The pair is now trading in the upper half of 1.38 handle while traders await US data and senate testimony for short term trading cues and profit opportunity.

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