By FXEmpire.com
The USD/CAD pair rose quite strongly during the week as the oil markets plunged. However, the pair is still in the same range it has been in for some time now, and because of this we are not convinced to take a trade either way when it comes to playing this market long term. With this in mind, we need to see the range broken, and a daily close sub-0.98 would be a sell signal. In order for us to get bullish, we would have to see a daily close above the 1.01 resistance level. Until then, this is the domain of short-term traders only.
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Originally posted here
