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USD/CAD testing the 1.0500 region

FXstreet.com (New York) – The USD/CAD foreign exchange rate surrendered its grip on the 1.0500 barrier earlier today, now situating itself for a push above it.

Wednesday is fairly scant in the datawires, however later today, the United States is slated to release housing data, coupled with the EIA Crude Oil Stocks Change. Moreover, escalation in Syria could also help move the pair.

USD/CAD strategic bias

According to the Technical Analyst Team at ICN.com, “The USD/CAD is trading in a negative bias due to trading below 23.6% correction of CD Leg of the bearish harmonic Bat Pattern. Trading below top D at …read more