The USD/CAD pair initially fell during the day on Wednesday, triggering a lot of sell orders underneath the shooting star from Tuesday. However, we turned back around and slammed into the 1.24 handle, showing more choppiness in a pair that simply doesn’t seem to want to go anywhere. With that, we remain on the sidelines and think that it’s simply not worth being bothered with right now as the oil markets chopping around won’t necessarily help the situation either. With that being said, we will continue to monitor this market and of course let you know what we see.
