USD/CAD Trades Dovish due to Crude Oil Price Action

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

USD/CAD: The pair is trading with clear dovish bias as a sharp spike in crude oil price action has helped CAD gain solid momentum. However, firm USD underpinned by lingering caution in the broad market kept decline capped above 1.40 handle for now. Traders now await US data for short term profit opportunities. 

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

Was this post helpful?