The CAD is still ripper strong with decoupling of oil prices which fell 2.8% due to other economic data showing improvement in the economy, see CAD news slide, based solely on technical analysis I believe the USDCAD could see short term consolidation sideways then a retracement/retest to the 61.8% 1.2940 handle before potentially testing major psych level of 1.3000 which has previously been retested and failed a number of times recently. I’m NOT bullish on USDCAD rather neutral with support at pivot WS1 @ 1.2860 and possibly a seller @ either 1.2940 and/or 1.3000 depending on where the market takes it.

USDCAD 1H

USDCAD 4H pivot points

USDCAD 15m

CAD news

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