EUR/CAD has continued down to 1.2420 after breaking the all-time low at 1.2450 as technical and black box signals scream ‘sell’. The trade has spilled over into USD/CAD, which is at 1.0188 after climbing as high as 1.0250.
Minor trendline support and the lows at 1.0175/65 make this an enticing entry point for USD/CAD longs. The fundamental picture hasn’t changed and the upcoming Chinese data could hurt Canada.
