The USD/CAD pair rose during the session on Monday, but failed to stay above the 0.98 level. This suggests that the former support level could now be resistive going forward. Certainly, there are always going to be more headline risks to the upside in oil in a world like we have at the moment, and as such this pair is likely to fall.
The NZD/USD pair fell on Monday, but bounced in order to form a bit of a hammer just above the 0.82 level in order to show support at a former resistance level. This pair should benefit from massive quantitative easing around the world.
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