USD/CAD: The Pair is Trading on a Positive Note Today

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

USD/CAD: The pair is trading on a positive note today, but gains were capped at the mid-1.34 handle as CAD still holds firm. While USD has recovered some level of strength, recovery of crude oil price decline from the previous sessions keeps CAD bulls fundamentally well supported, resulting in pairs remaining well within the lower half of the familiar price level. Traders now await US weekly API stockpile data and Fed cues for short term profit opportunity and directional bias.

Please feel free to share your thoughts with us in the comments below. 

Was this post helpful?