A look at the USD/CAD technical
Oil is higher and that's weighing on USD/CAD. The 119 pip decline in the pair today is the largest since April as a squeeze hits the pair after a 10-year high of 1.31 on Friday.
Technically, I like buying the pair at the confluence of support in the 1.2234-50 zone. The uptrend in June, the 21-day moving average and (most importantly) the March high all meet there.
USDCAD daily
