USDCAD Traders are somewhat undecisive

I guess that's the sentiment. On Wednesday the important FED announcement is coming and Oil shows signs of resurrection. Bunch of traders are still in the USD just because of the very strong performance for the past year. Technically speaking we already hit the quite important trend channel upper line. Purely, from a technical point of view, we shall see a reversal of USD in the bear direction. However as said there are lots of mixed feelings as we speak, among the traders. I guess Wednesday may be a very important make it or break it day. We'll see.

Note: USD index is in the bears for a while now, Euro is firmly on the bull side. All this may be indications that the interest on USD is drying out.