The USD/CAD pair rose during the session on Tuesday, but ran into the same trouble it ran into on Monday. We essentially printed the same candle as well, and as a result it looks like the upside is simply to be far too difficult for the buyers to push upon the market. With that being said, we are ensemble serious support as well and we believe that the 0.98 handle will be crucial. If we can get below that area, we think this market goes much lower, possibly to the 0.95 handle in relatively short order.
Written by FX Empire