USD/CAD bounced from 1.0991 to 1.1029 as retail sales turned sour.
Given that the US dollar is looking less than strong there might be a quick opportunity for a very small and tight scalp here to fade the move with a stop just above 1.1055.
USD/CAD M5 chart 23 09 2014
If US traders fancy some cheaper dollars and take USD/JPY through 108.60 then USD/CAD will follow. If there’s no interest to take the US buck higher then there’s only one way it will go.
