Tough to draw conclusions today
Normally, the USD/CAD rally despite a 2.5% climb in oil prices would be a positive signal for the pair.
But it's Fed day and market moves can be meaningless, whippy and misleading.
USD/CAD is up 16 pips on the day and quickly rebounded from a dip inspired by oil and the EIA report.
What to watch is the 1.3131 to 1.3253 range, something Greg highlighted earlier.
If anything, the rally today and ability to reject the lows is bullish.
