USDCAD is getting double bubble today. Bullish USD and falling oil
The runaway train is showing no signs of stopping as it hits 1.3948. WTI is down testing 35.00 with a 34.96 low
I highlighted the weekly chart and some juicy topside levels in my last look but the fundamentals are fully in charge of this pair and the tech is a secondary thought
USDCAD weekly chart
This is not a train you want to step in front of right now
Commodity currencies are getting it in the neck generally with AUDUSD falling to 0.7117 from near 0.7200 just over an hour ago
The drop in oil is being attributed to Genscape reporting that the Cushing inventory rose 1.4m. Yesterday's DOE had a 607k build. That's a headline that popped up on Reuters so I haven't seen the full info yet
