USD/CAD fell hard on the session Tuesday as traders moved out on the risk trade a bit, especially in the afternoon in America. The pair has rested down near the 1.01 level, which has been supportive lately. The level is actually the start of a 200 pip zone of support going down to the 0.99 level. The next day or two could provide us some kind of supportive candle from which to buy. We are simply far too close to support to sell at this point, and truthfully believe this recent range should hold up anyways.
Written by FX Empire