If the US economy continues to show signs of improvement, it moves forward Bank of Canada rate hikes and boosts CAD.
CAD/JPY has surged to a two week high at 79.91 but is running into offers at 80.00.
EUR/CAD has beaten back yesterday’s squeeze above 1.25 and has fallen to 1.2420. AUD/CAD is falling back toward parity.
The key level to watch is 0.9842 in USD/CAD. The pair has formed a triple bottom at that level and is testing it once again. Support below at 0.9800.
