Nothing like a vote of confidence to send a shiver down the spine
- Says he has full confidence in BOC policy
- Says CAD is responsibility of BOC
- Declines to comment on CAD slide
USDCAD has been off to the races after the break out of 1.31. It's caught in the eddies of other commodity currencies
The 61.8 fib of the 2002 drop at 1.3465 is a final hurdle on the tech front before a move towards 1.40
USDCAD weekly chart
I fancy this pair as the dollar pair to short after the Fed raises rates. The picture is a little muddy right now with everything else going on but I'm keeping one eye on that fib with a thought to dangling a short ahead of it
