This week, main focuses are FED Meeting and Canada CPI .
Although I keep view for Dollar ahead FED meeing, but I also have a negative view to Loonie base on recent weak data: Ivey, labor market. Hence,I think the drop of USDCAD should halt at current level and shift to uptrend.
indicator indicates that it is staying in oversold zone too long and a squeeze is reasonable.
USDCAD also holds SMA200 as good support and I expect USDCAD bounces at this level to SMA100 around 1.3400 level.