USD/CAD Technical Analysis(2016.03.02)
The USD/CAD pair fell during the course of the day and sliced well below the 1.35 handle. Because of this, looks at the pair is ready to continue going lower, but we recognize that oil markets will be greatly influential and with the Crude Oil Inventories number coming out today, it’s possible we could get a complete turnaround. This should be a fairly volatile currency pair as a result, so be cognizant of that announcement coming out. With this, we think that the pair will be one of the more interesting ones to trade.