The level being protected so far as NA desks enter the fray 22 Aug

I made note of the large ( for this pair anyhow) expiries at 1.2600 here and here and despite general USD demand elsewhere and softer oil we've seen USDCAD tightly contained after an initial rally.

Canadian retail sales data at 12.30 GMT will surely impact so let's see where we are after that.

Currently 1.2582 near retreat lows after posting 1.2596.

Remember that these are "vanilla" options so still in play right up to expiry at 14.00 GMT on the day even if breached in the meantime, unlike barrier options which cease to be once hit. The actual amounts can change right up to expiry.

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USDCAD 15m