USD/CAD breaks triple bottom
The New York week is kicking off with fireworks and one of the major locations is in USD/CAD, which has edged below the pandemic low of 1.3850.
That zone has held three times, including last week but is breaking at the moment with a low so far of 1.3837.
There is always the potential of a false break but it’s tough to imagine some kind of news that will turn the market.
As hard as it is to believe, the market is telling us that it wants to go back to pre-pandemic ranges.