Just had a little 20 odd pip drop to 1.1210 just a moment ago. Not sure why exactly. we may have just had some CPI trading after the USD finished trading the housing data. The CAD might be bolstered by the fact that the fall in oil hasn’t hit inflation yet and we’re not seeing the type of falls in prices the US are currently seeing.
We’re down to the 55 h4 ma and old Jul 2009 resistance line and holding the area for now.
USD/CAD H4 chart 17 10 2014
USD/CAD had been running up on the back of commodity prices falling (as comod currencies do on occasion), so we might be seeing a touch of that come out with inflation holding up.