USD/CAD has been wondering around aimlessly in the 300 pips range of 0.97 to 1.000 for the last several weeks. There is nothing on this chart that suggests this is going to change anytime soon. Because of this, any trading in this pair should be of the short-term in variety and take profit levels should be quick. A breakdown of 0.97 is needed for clear direction in this pair. A break above parity signals consolidation between 1.000 and 1.0200 levels.
Written by ForexMansion.com