USD/CAD is Trading with Clear Dovish Bias Today

USD/CAD Hourly (H1) Chart

USD/CAD: Despite USD’s broad-based rebound supported by Fed’s latest QE measures following rate cut announcement earlier this month, the pair is trading with clear dovish bias today. The dovish bias in price action was influenced by a sharp rebound of crude oil price action in the global market, which underpinned the commodity-linked currency Canadian Loonie. Traders now await fresh updates from the US market for short term profit opportunities. 

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