Loonie hand back gains vs their US counterpart following firm rebounds yesterday. UUSD/CAD is hovering below 1.2050 in advance of Canadian retail sales.
The Buck remains fundamentally, technically and even psychologically weak as the DXY languishes below 90.000, but the index is trying to resist another bout of selling pressure that could yet culminate in further depreciation given bearish external factors.
For USD/CAD we could see some serious downside moves heading into next week. 1.2000 is a massive level and if broken we could see drops even down to the 1.1500.
The Buck remains fundamentally, technically and even psychologically weak as the DXY languishes below 90.000, but the index is trying to resist another bout of selling pressure that could yet culminate in further depreciation given bearish external factors.
For USD/CAD we could see some serious downside moves heading into next week. 1.2000 is a massive level and if broken we could see drops even down to the 1.1500.