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USD/CAD bulls still in control, notwithstanding last week's violent drop

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    All good things eventually must come to an end, and after last week’s price action, USD/CAD bulls are wondering whether the seemingly never-ending gravy train of higher rates is finally done. The currency pair had surged a staggering 1500 pips in less than three months to hit a high above 1.4600 before rolling over in the second half of last week. As with just about every major market nowadays, USD/CAD’s most important driver is oil. Oil prices did manage to stage an oversold bounce late last

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