USD/CAD continues to dance around the parity level, and experienced a pullback on Wednesday. The pair broke to the upside decisively on Tuesday, and as such we think there is still much fear in the markets, and this pair is a great example of that. Because of this, we actually like buying, but need to see supportive candles above or at parity.
NZD/USD had a bearish day, and even tested support at the 79.80 level. The fact that many commodities rose, and the Kiwi fell shows signs of weakness in the currency. The sell signal is simple – can we break the support level? Buying is more than likely a return to consolidation in the 0.8000 level.
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