USD/CAD fell on Tuesday as the oil markets rallied hard. The pair managed to break below the 1.03 level for a sustained period of time during the session, but bounced back above it by the close.
USD/CAD had a volatile session on Monday as the market closed in an unchanged manner. The range was somewhat extended, but the more important fact is that the 1.03 level has continued to hold as support.
USDCAD had formed a cycle bottom at 1.0051 on daily chart. Further rise to test 0.0523 resistance could be seen, a break above this this level will target 1.1000 area. Support is at 1.0250, as long as...
USD/CAD fell on Thursday as oil markets regained some of the losses they suffered on Wednesday. The pair fell back down to the 1.03 levels, and area that we hoped to find support.
USD/CAD rose again on Wednesday as the oil markets absolutely cratered. The selling of oil often will drive the value of the Canadian dollar down, and Wednesday wasn’t any different. The 1.03 level below could offer support...
USD/CAD continued to run higher during the session on Tuesday, even as the oil markets ran higher at the same time. Normally, the Canadian dollar gets a bid on oil demand. This shows just how “risk off”...
USD/CAD rose on Monday as the markets sold off risk in general. The oil markets fell uniformly across all grades, and as a result, the Canadian dollar got hit because of the oil export relationship.
USD/CAD had another tight day on Friday as the market ended up down slightly. The pair will follow the oil markets over time, and with those markets currently range bound, it makes sense that the Canadian dollar...
USDCAD remains in downtrend from 1.0523. The rise from 1.0051 would possibly be consolidation of downtrend. Another fall could be expected after consolidation, and next target would be at 0.9800 area. Resistance is now at 1.0260, as...
The USD/CAD pair skyrocketed during the session on Thursday as the “risk off” trade came back into the fray. The Canadian dollar is tied to the risk spectrum and highly sensitive to the price of oil, which...
