This pair is in an uptrend.


Oil influences a lot on CAD currency. So now when WTI-oil is not moving much, this pair is in some kind of consolidation. If oil will go up, this pair should go down and the opposite is true also. We are at the moment at psychological level of 1.5000. Seems that round numbers are especially important for this pair. I drew support level at 1.4900. When I pull a Fibonacci for the last 5 days, I noticed that 38.2% match with 1.4900. So possibly we will retrace down for 100 pips, before price will move back up.
Tomorrow there is Final CPI y/y news in EU, which normally doesn’t produce big impact in Canada we have Manufacturing Sales m/m.

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