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USD/CAD: The Pair Continues to Trade with Dovish Bias

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

USD/CAD: The pair continues to trade with dovish bias, but this has more to do with USD’s weakness rather than CAD’s strength. Improved risk sentiment caused USD sell-off pushing the price below 1.40 mark, but crude oil price weakness limit sharp decline, keeping price steady above the 1.3900 handle for now. Traders now await fresh updates from Fed meeting for short term profit opportunities ahead of tomorrow’s press conference.

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