USD - Weak Bullish 1️⃣ The US Empire State Manufacturing Index jumped to 30.9 against market expectations of 22.1. 2️⃣ Better-than-expected U.S. retail sales data provided support to the U.S. dollar and boosted investor optimism about the Fed’s earlier policy tightening.
CAD - Strong Bearish 1️⃣ The fall in crude oil prices pushed the CAD to decline further.
===== Technical =====
The USDCAD has broken the previous resistance level and now become the support.
===== Risk to this trade =====
Any change in sentiment could turn the pair's direction.
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