While Crude is moving sideways right now, it is in a long-term , strengthen CAD and therefore, I'm looking for a break of the long-term at 1.31. Should that happen with some strength and it holds, then I would expect to reach one of two targets, both fib levels, 1.29 and 1.275
The best pair would be AUD / USD rather than USD / CAD
The DXY is selling off nicely
The DXY has a while to fall yet
Higher oil prices will drive up the Canadian and Aussie dollars, Bond yields will help move the dollar. So be aware of this when looking at other pairs and Equities will be impacted by the reduced dollar and increased Oil, they will go up.
Lots of components fundamental and technical to keep our eye on here.
The very big picture, this pair have been in decline since 2016, are we about to resume that trend?