FX.co ★ USD/CAD

Hello traders, yesterday there was a significant movement on the USDCAD pair. I personally did not expect such a sharp drop. Moreover, the closure was at the lows, indicating pressure to the downside. It is worth noting that the dollar itself stopped falling, leading to the strengthening of the Canadian currency, although the reason for this is unclear. Nonetheless, there is a strong bearish sentiment, but a pullback is needed. The area around 1.3720 is becoming relevant again. In any case, it is crucial to see how the dollar will trade further, especially considering inflation in the United States. Additionally, there will be a Bank of Canada meeting. Overall, I am naturally looking southward, and if we retest the area of 1.3970 and above, I will sell there.