The USD/CAD pair fell during the session on Wednesday, breaking below the 1.03 handle cleanly. This is predicated mainly upon the Federal Reserve tapering being put off, and with that being said the US dollar got absolutely pummeled against almost every other currency out there. This market should continue to fall going forward, and we fully expect to see the parity level hit over the next couple of weeks. With that being said, we are selling rallies, and of course a break of the lows for the session on Wednesday as it would show continued momentum to the downside.
Written by FX Empire