USD/CAD now up 80 pips on the day.
The tell in USD/CAD was yesterday when Poloz was so giddy that I thought he was bipolar AND oil rallied hard. Yet despite all that, USD/CAD wouldn't go down below the Asian low of 1.2180.
USDCAD two day
Earlier today I wrote "USD/CAD is especially impressive over the past few hours. It looks like the pair has put in a minor bottom for a bounce to 1.24."
In the bigger picture, the first upside target is 1.2352, which is the retest of the breakdown. Keep an eye out for API oil figures due out later today.
