USD/CAD rose again during the Tuesday session, and the 0.96 handle has been breached again. The pair is still in a massive downtrend, but with all of the debt crisis issues and sovereign risk fears out there, the world is buying USD. It is also selling oil, and that is the biggest problem for the Canadian dollar, not that the Bank of Canada has an issue with a falling Loonie. We still think this pair goes a bit lower, but there is a bounce coming from here. We are looking for bearish action near 0.98 and parity to sell from.
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