USD/CAD originally fell during the previous week as the fears of Iranian blockages in the Strait of Hormuz weighed upon the oil markets. However, as the week continued, the Dollar got a bid against everything, and the pair ended up rising - to form a hammer to show support at 1.01 again.
The EUR/USD has finally broken down below the 1.29 level, and ended the week very poorly. The situation in the EU continues to weigh heavily on the Euro, and the situation could get worse before it gets better judging by bond yields.
GBP/USD is sitting just above the 1.53 level. This is one of the biggest levels in FX markets right now.
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