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USD/CAD does as expected and holds gains
Yesterday an update here highlighted the potential for the USD/CAD to correct higher and that is exactly what it did. The US dollar rose steeply as early US players returned to the market. The USD/CAD lifted above 1.33, to a high at 1.3334 ahead of the US close, where it later ended the session at 1.3321. The high seen yesterday was just ahead of an initial and minor corrective target at 1.3347. That is the first price point on the radar today and beyond that comes the 21 day moving average, in place right now at 1.3377. The lower oil price was also a factor in driving the USD/CAD higher and so was the rebound in US yields and both of those will be again today. The range seen so far today has been covered 1.3318 to 1.3334 and the USD/CAD is on that session high right now
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