USD/CAD fell on Tuesday as the shooting star from the Monday session triggered technical selling. The area the pair is in has been very consolidative, and as long as that remains so, we see no real longer-term trades available. The 1.01 level above serves as strong resistance, and that 0.99 level below serves as strong support. For those of you that are prone to scalping, this could be a good market for you. However, for us we see very little in the way of trading opportunities until we clear the 1.01 level to the upside, or the 0.99 level to the downside. Until then, we are flat.
Written by FX Empire