By ForexMansion.com
The USD/CAD continues to drift aimlessly between the 0.97 and 1.0000 levels, with no clear bias in the short-term. It is however known that the long-term bias in this pair is to the downside. Because of this, shorts are preferred, especially towards the parity level. This market is being dictated by the oil market at the moment, which is also being dictated by various events in the Middle East. Because of this, traders seem to be watching and waiting to see the future direction of this pair. A break lower and under the 0.97 level would be the catalyst for a continuation of the previous move.
