The US dollar initially fell against the Canadian dollar during the trading week but has bounce nicely to find itself near the 1.38 level. The 1.38 level is a large, round, psychologically significant figure, but it’s also an area that’s been both supporting and resisting previously. All things being equal, we are still very much in a range, which makes a certain amount of sense considering that we are still trying to get a handle on the overall North American economy. If the market can break above the 1.39 level, then it’s likely that the US dollar will strengthen. Alternatively, if we break down below the 1.37 ... (full story)