The USDCAD fluctuated widely overnight with no clear directional bias, with the price remaining between the key support and resistance levels of 1.3560 and 1.3660 respectively.
With no major news events on the Canadian front, the next directional move on the USDCAD would be heavily driven by the volatility of the DXY.
If the DXY recovers in strength as anticipated, the USDCAD could trade slightly higher to retest the resistance level.
While unlikely, if the USDCAD breaks above the 1.3660 resistance level, the next key resistance level beyond that is not far off at 1.37
With no major news events on the Canadian front, the next directional move on the USDCAD would be heavily driven by the volatility of the DXY.
If the DXY recovers in strength as anticipated, the USDCAD could trade slightly higher to retest the resistance level.
While unlikely, if the USDCAD breaks above the 1.3660 resistance level, the next key resistance level beyond that is not far off at 1.37
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