The USD/CAD pair fell drastically during the session on Tuesday as we crashed back down towards the parity level again. The real question is whether or not support can come into the market at this point in time, but it should be noted that the candle for the Tuesday session was extraordinarily we, and close that the very lows. Is because of this that if we do see a bit of support, it may be after a significant dip lower, perhaps forming something like a hammer. At this point time, we do not have a trade in this market, but will observe over the next couple of days in order to see whether or not the market plays its hand.
Written by FX Empire