The USD/CAD pair fell during the session on Wednesday, but remains above the parity level. The pair did get a little bit of a bounce later in the session, although it did not bounce enough to form a hammer. In general though, this looks like a market that is trying to find some type of support in this general vicinity, and of course parity would be the focus. With this being the case, we are not ready to take a trade in either direction quite yet, but will be watching this pair over the next couple of sessions as we think parity will decide the next move.
Written by FX Empire