USDCAD under the cosh as it drops a swift 100 pips
There's a little bit of everything and not much of all in this move. We've fallen from the days highs around 1.4103 to a low of 1.3915 with a big drop over the last couple of hours
I'm not seeing any news behind the moves but a mix of higher oil, weaker USD, and commodity currencies generally stronger look to be the main reasons.
We've nearly matched the low from Monday and the bounce shows there's decent interest down here.
USDCAD daily chart
Should 1.3900 go the next decent support comes in around 1.3830, ahead of more at 1.3800. We're seeing initial resistance at 1.3950/55 right now so mark that on your charts.
