Chart of the day -- USDCAD

Daily close back above 1.2928, USDCAD threaten to complete a large base formation.

To the topside, 1.3080/1.3167 is next area.

Above here, there's no major resistance until 1.3504/26.

Close below 1.2782 will negative this view and may expose 1.2670/1.2523 support area.

We already tactical long USDCAD at market, ideally today no touch 1.2920 and must not close below 1.2900.

Having completed the inverse head-shoulder bottom, USDCAD come into critical resistance area.

The new high is not confirmed by RSI, but it's too early to translate it into tactical sell signal.

Directly closed above 1.3242 will extend to at least 1.3504/26.

short term support is 1.3017/06, 1,2970/62.

Close back below 1.2927/1.2794 will erase immediate upside risk.

Views are my own, not trading recommendations. Good Luck!

Daily 1st support here.

Be cautious before FOMC.

Failure at 1.3067/1.3108 area, USDCAD already dropped out from uptrend channel.

For now we see small divergence on intraday chart, but further downside toward 1.2740/1.2620 seems inevetable.

If seen, Rallies toward 1.2953 should be sold into against recent high.

But near term potential month end re-balancing USD buy signal will have to ba taken into account.

We'll look for beter sell opportunities.

Corresponding potential seasonal Candian dollar strength, how the pricr develop at 1.2620/1.2553 is key to watch.

Directly close above recent high will negative this view and turn the trend higher again.

Views are my own, not trading recommendations. Good Luck!

May find some support here, but below 1.2960, the head-shoulder top formation still intact.