USD/CAD rose during the session on Wednesday as the oil markets fell apart. The Canadian dollar suffered of course, and as a result we saw a slight rally in this pair. However, there is a ton of resistance above, and we don't see this market as a buy until we get over the 0.9950 level.
The AUD/USD pair fell precipitously during the session as the commodity trade failed in general. The 1.02 level acted as support, but if it gives way we should see the pair continue down to the parity level. With the RBA looking to cut again - it is probably only a matter of time.
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