USD/CAD

USD/CAD testing its trendline for the 3rd time. It's unclear at this point whether it will hold. If Crude is bid in early NY, we could see this pair much lower, perhaps to the base of the current upwave. Stochastics are making it look heavy.

USD/CAD looking rather congested over night. If there is a bid in Oil again today, we could see some lower USD/CAD. As you can see in the short term it has been correcting a little but on a longer term, 4 hr chart, we have some well defined down trend resistance.

On the other hand, if we see profit taking in Oil before the long weekend, USD/CAD may get a bid through the shown technical point. Only time will tell.

USD/CAD getting hammered after CAD CPI data release. Only bidders in the market seem to be shorts from earlier in the evening, covering at technical levels which are not easy to find...

Another USD pair (USD/CAD) consolidating but not as many bids found due to the price and volatility of Oil. Stochastics are positively converged though it's not looking particularly strong at this point. Keep an eye out for either side of the consolidation pattern for strategic entry/exit points.

USD/CAD breaking a little higher as Oil sees some profit taking, falling over -$1.25.

USD/CAD touching what looks like formation bottom in a comparatively benign CAD number for Unemployment rate and change in net employment, which came out as 6.1% and +19.2k.

USD/CAD getting a little bounce this hour though Crude is near its highs. We have some CAD data out in ~30 min which should bring some interesting price action...

USD/CAD feeling strong offer pressure, given the present volatile commodity environment. Oil over the past few days has been very bid in what looks like supply concerns. This has put an offered tone to USD/CAD which is particularly Oil sensitive, this is in line with London desk's previous assertions in past days. Par is not too far away at this point, so keep an eye out for the formation support shown. Should it get given through it, we could see some considerably lower levels.

USD/CAD rather mixed with prevailing commodity concerns keeping any rally attempts muted. Analysts now looking for much higher Oil cannot help this pair, considering its correlation with commodities, Oil in particular. If NY sees Oil higher, we could see parity in USD/CAD again or lower.

USD/CAD entering some resistance on a short term chart after having been rejected @ formation resistance. Techs are also indicating that it may slow further as stochastics are negatively converged.