By FXEmpire.com
The USD/CAD pair had a bullish session on Monday, but only just. The oil markets ended the session higher after falling to form a hammer. The USD/CAD pair formed a bit of a bearish outside candle, so it looks as if the 1.04 level may contain the market for the time being. However, we only buy this pair until we get a daily close sub-parity, so selling isn’t a thought. In fact, we like buying the pullbacks as support shows itself in the 1.03 or 1.01 areas. Until we get that or a break of the recent highs, we are going to sit and wait for the trade to come to us.
Click here to read USD/CAD Technical Analysis.
Originally posted here
