By FX Empire.com
USD/CAD continues to meander in a 200 pip range as it falls on Tuesday. The pair looks like it is waiting for something big to happen, and we believe that is a bull move in the oil markets. As the Light Sweet Crude markets pierced the $90 for the first time in a while on Tuesday, and are at a 5 week high, it will drive the demand for the Canadian dollar higher. This will in turn push this pair down. However, with the fear in the markets these days, a reversal isn’t more than a headline away most of the time. We expect this pair to continue to bounce around over the next few weeks, offering scalping opportunities in the near-term.
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