The USD/CAD pair fell and then bounced from the 0.9450 level on Thursday, perhaps suggesting that we are ready to bounce even higher. The pair looks like it is trying to gain in the midst of falling energy prices, and debt ceiling talk issues. The pair is still bearish, and we like the idea of letting it rise so we can sell from higher levels, perhaps at 0.96 or 0.97 as they are obvious resistance areas.
Written by FX Empire