6 days ago I wrote the following regarding USDCAD:
'Watch for a consolidation and buy continuation towards 1.345. However if we see a reversal here we should be looking for a bearish impulse and sell after the consolidation. I still expect a test of the high of 2009 and a move towards 1.345 will not invalidate that scenario.'
for my posts see below:
after the FOMC statement we saw another impulse lower towards long term target at 1.305 and likely even lower before we see a signifcant bullish reversal