Canadian Dollar's fortune is tied to the Oil
price and if oil
puts to manage any sort of rebound today then USDCAD
will most likely suffer a minor setback. In that case, we will be looking to get long near 1.2700. Better support comes in near 1.2600 but we expect 1.2700 to give us a quick trading opportunity for few pips even if it gives up. So we will monitor closely how it behaves near 1.2700 and will be quick to book profit and move the stop accordingly.