The USD/CAD pair spiked today, but fell again as the 0.97 level showed how strong of a resistance area it really is. Because of the massive downtrend, we have been telling you this is a “sell on the rallies” type of pair, and as such – you would have done quite well today. Until we break the 0.97 level on a daily close – selling is the only way to go here.
Written by ForexMansion.com