I have been pounding the desk for awhile on USD/CAD longs and it is all come collectively up to now two months, with a one-way transfer up via a collection of highs within the 1.3950 vary. Now the pair has clearly damaged out and it is on account of a mushy Canadian financial system and a surprisingly robust one within the US. The Fed is already speaking about slowing fee cuts and the Financial institution of Canada is more likely to minimize 50 bps subsequent month.
Technically, that is as clear because the bitcoin breakout above $73,000. The goal is 1.4500.
USDCAD weekly chart
