USD/CAD is Trading with Clear Dovish Directional Bias

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

USD/CAD: The pair is trading with clear dovish directional bias as commodity-linked currency Canadian Loonie got a strong burst of fundamental strength and support over today’s crude oil price rebound. Meanwhile, broad-based USD easing also added to downside momentum pushing the price below the mid-1.43 handle. Traders now await the US and Canadian macro data for short term profit opportunities, but the price is likely to stay below 1.44 handle as trading session closes for the week. 

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