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The USDCAD has had a major reaction from yesterday at the 38% retracement at 1.2785, which could lead a move higher as the market may be short due to the Nafta news, and with stocks weak it could favor USDCAD bulls as we are near the highs of the session.
Intraday Update: The USDCAD has hit lows and broke the 38% retracement as headlines about "Trump to soften stance on Nafta automotive content"
End of Day Analysis: We have closed below the 1.2800 level in the pair and are set to make a move back below the 1.2500 level. We will need a little help with USD weakness as well from other majors to get this pattern complete.
Intraday Update: The USDCAD has hit lows and broke the 38% retracement as headlines about "Trump to soften stance on Nafta automotive content"
End of Day Analysis: We have closed below the 1.2800 level in the pair and are set to make a move back below the 1.2500 level. We will need a little help with USD weakness as well from other majors to get this pattern complete.
