USD/CAD: The pair has managed to regain hold above 1.41 handle on a sharp decline in the crude oil price to multi-year lows. While USD by itself lacks the strength required to make a sharp upward move, the decline in crude oil price is weakening Canadian Loonie considerably providing USD bulls with momentum required for upside lift. Traders now await fresh cues from US market hours for short term profit opportunities.
Let us know if you liked the post. That’s the only way we can improve.