USDCAD Recovers on Comments from US Fed about Economic Support

USDCAD Hourly (H1) Chart
USDCAD Hourly (H1) Chart

USD/CAD: The pair managed to recover its hold above the mid-1.33 handle on US T.Yields rebounded on comments from US Fed hinting at measures to support economy from coronavirus outbreak woes. But a sharp recovery in crude oil price keeps CAD underpinned. The pair is unlikely to scale 1.34 handle regardless of the positive outcome from G7-conference call unless Crude oil price weakness. The pair is likely to remain range-bound within 1.3330-1.3380 handle during the North American session. 

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