USD/CAD fell on Thursday as the oil markets continue to rise in value. The CAD always gets a boosts in this types of situations, as the world continues to buy the biggest Canadian export. The demand for CAD should continue to rise as long as the oil markets do, but we also see parity as a massive supportive area. The market could drop as low as 0.99 and still be support, so we think that the near-term has us seeing consolidation in the 1.03 to 0.99 areas.
Written by FX Empire