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USD/CAD bounces between the goalposts


Bounces off the top and bottom of the range

USD/CAD came within a few pips of a fresh high since May 2017 but a reversal in oil prices and sentiment sent the pair lower. The drop continued down to support at the December 27 low of 1.3576 but that also held and now the pair is just under 1.3600.

Today’s price action deeply underscores the extremes of that range, which were all set in the generally-quiet holiday period. Look for some decent follow through on a break in either direction.



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