By FXEmpire.com
The USD/CAD pair fell during the last five sessions as the potential central bank easing coming in the next couple of weeks puts a bid into the commodities markets such as oil. This of course is healthy for the Canadian dollar, and as such we sell this market fall. However, we are currently sitting on top of the 1.0050 support level. This looks like an area that could cause a bit of a bounce in this market, and as such we are not willing to sell at this point. In fact, we think that this market is more likely to bounce, however if we break down below the parity level, we would be willing to short at that point in time and aim for the 0.97 area.
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Originally posted here
