Watching USDCAD ahead of CPI release later today. It is currently sitting in a narrow 12 pip range on the 10m chart after bouncing from the lows yesterday. It spent nearly two days below 1.33850 after the Dollar weakened last week on the back of the 'no change' from the Fed.
That Dollar weakness does give us the potential for a bounce to set a lower high on the daily chart, or at the very least a small relief rally to take some of the pressure off.
That relief may have come in the form of the pop we saw late in London yesterday, at which point be sure to watch for a low break of this range and a move back towards the lows.
That Dollar weakness does give us the potential for a bounce to set a lower high on the daily chart, or at the very least a small relief rally to take some of the pressure off.
That relief may have come in the form of the pop we saw late in London yesterday, at which point be sure to watch for a low break of this range and a move back towards the lows.