USDCAD Forecast, March 26

The USDCAD pair did not have any firm intraday direction and is at this moment set around the 1.3400 handle.

The pair stopped its overnight retracement slide from 2-week tops and discovered some support close to the 1.3380, though a mix of divergent forces failed to give any significant impetus and prompted a subdued price action in early European trading.

A goodish rebound in the US Treasury bond yields from 15-month lows contributed a minor lift to the USD. The positive aspect was to a great extent counterbalanced by a solid pickup in crude oil prices, presently up over 1%, which supported demand for the CAD.

Thus, it is judicious to wait for a persuading move in either direction.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.