The USD/CAD pair rose slightly during the Tuesday session as the market bounced from the recent support levels that have kept this market in check lately. The 200 day EMA is just above, and held the market down as well. Because of that and the parity level acting as resistance, we look to see the market selloff from time to time. Of course, the oil markets will have to be watched as they almost always produce a reaction in the CAD markets. We are sellers of rallies, but would need to see weakness a little closer to the parity mark to get involved.
Written by FX Empire