If you’re the type of trader that follows the trend, it’s been a tricky month for USD/CAD.
The pair hasn’t moved in the same direction for more than two days in a row at any point in November. With the 40-pip bounce today, the pair is virtually flat on the month as well.
Falling oil prices boosted the pair in early November but strong Canadian economic data has pulled it back lower.
On the orderboard, bids start all the way down at 1.1200/10, with stops below 1.1185 and 1.1135.
Offers stretch from spot all the way up to 1.1300 with more at 1.1325 and 1.1340.
USDCAD hourly – elevator and escalators
