The USD/CAD fell hard on Monday as the oil market rose. This pushes demand for the Loonie, and as such pushes this pair lower. The 0.98 mark is where we stopped, and it looks like an area that could give us some issues. However, the trend is down, and we like going with the trend. If this area gives way, we go much lower. Look to the $90 mark in the CL contract as your guide.
The USD/CHF pair rose again as traders ran from the talk of a currency peg out of the Swiss National Bank. The 1.15 area proved too strong on Monday, and we formed a shooting star. If we break the lows of that candle form Monday, we go down to 1.10 and possibly lower. If we break the highs - we search for 1.18 and then 1.20 as well.
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