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Oil strength finally weighs on USD/CAD as support breaks

Discussion in 'Market News' started by ForexLive, Feb 12, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Crude up 12% The moves in the oil market are ruthless this week. USD/CAD hasn't had the tightest correlation with crude and that's puzzled traders this week. One of the reasons was has been heavy orders in the market. It's clear that a massive bid was sitting in the 1.3900/1.3880 range today. It finally broke and virtually gapped down to 1.3850 and has continued down to 1.3830.

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