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Aug 25, 2016 at 01:39
USD/CAD rally was short lived With the fall in oil comes a decline in the USD/CAD pair. The pair was already in a medium-term downtrend but recently had been rallying with oil. Crude oil prices made their way to nearly $50 this month which provided a catalyst for USD/CAD to rally. With the build in oil, today the momentum behind the crude rally is over, and this will weigh on the Loonie.From a technical perspective, the pair has been consolidating sideways all week near the 1.2950 area which is a support/resistance line tracing back to October 2105 with multiple touch point since then. On ...
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