The USD/CAD pair did very little during the session on Tuesday as we continue to consolidate between the parity and 0.99 levels. We currently sit just below the 200 day exponential moving average, and as such there is a bit of dynamic resistance with this moving average, not to mention the parity level. With the Thanksgiving holiday coming up on Thursday, it is very unlikely that we will see a significant move in this pair over the next couple of days as it is mainly traded in North America. However, there are always headline risks they can come into play, but truthfully this is going to be a very quiet market all things being equal. With this in mind, we are flat of this market.
Written by FX Empire