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USD/CAD: All eyes on 1.40 heading into a data-heavy week

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Markets are off to a bit of a groggy start to the month of February, with most global equity markets trading lower and the US dollar seeing mixed performance its major rivals. Oil, the world’s most important market (at least for the moment), is seeing a drop of its own, with WTI trading off nearly 4% on the day. For FX traders, the drop in oil is having a predictably negative impact on the Canadian dollar. After surging to nearly 1.4700 less than two weeks ago, USD/CAD fell all the way down to

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