Oil price trading near session lows
The USDCAD is pushing to new session highs as oil prices dip toward it’s session lows (-4.22% on the day).
The pair tumbled more than 50% of the move up from the January 4 low to the high just reached on Wednesday at the 1.42509, and extended to a low price of 1.4113 on Friday. Today has seen buyers come back in. The move to new highs has the pair retesting the 50% level at the 1.42509. A move above should solicit more buying.