The USD/CAD pair fell during the session on Tuesday again, but still remained above the all-important parity level. Because of this, we don’t essentially see much in the way of trading this market, but do understand that a break down below the parity level is in fact going to be somewhat significant. However, we must keep in mind that the parity level has been sliced through a couple of different times, so in the end, we are not completely sold that it would be a meltdown by any stretch of the imagination. Nonetheless, a close below that level have to selling and aiming towards the 0.98 level.
Written by FX Empire