USD/CAD: The Pair is Trading Bearishly Despite Firm USD Price Action

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

USD/CAD: The pair is trading in red despite firm USD as Crude oil price saw a sharp rebound. While CAD remains supported by Crude oil price recovery, USD’s safe-haven demand, and lack of concrete comments from Saudi Arabia & Russia on Trump’s peace deal comments helped keep decline in check. The pair is trading around the 1.4100 handle while traders await Canadian macro data and further updates on the Saudi-Russia peace deal for short term profit opportunities and directional cues. 

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