USD/CAD
The chart in focus is the USD/CAD. Yesterday's CPI was a miss for the US and that weighed on the dollar. The dollar index is at a key level and EUR/USD looks to be underpinned all day by large option expiries at 1.1900.
Cad is being supported by oil which is up on the day and around the 71.50 level.
Ok, USD/CAD short looks in play.
Risk to the day is that oil retraces or that USD strengthens. You could go with a break of 1.2740 and look to take profit just above the 1.2700 level which corresponds to the 100 MA on the daily chart if we get momentum to the downside on USD/CAD.
