By ForexMansion.com

 

The USD/CAD finds itself floating between the 0.97 and 1.0000 levels still. The pair seems to be held hostage by the oil markets, which although bullish – have not broken back out. The two levels are holding up quite well, and should continue to do so until the oil futures make their move. (Most likely to the upside.) Because of this, long-term the directional bias of this pair still continues to be to the downside. However, unless we rise to parity, or break below 0.97, it is going to be hard to short this pair.

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