EUR/USD fell initially, but managed to form a hammer to show more signs of life at these low levels. Although we wouldn't buy the Euro on a bet, it does appear oversold for the time being, and a bounce looks inevitable. 1.24 looks like a great place to sell if we get a pop and then weakness.
The USD/CAD pair is sitting just above the 1.01 level, and looks primed to fall from here. The oil markets will be a key driver of course, and as they look just about ready to break out, this move could come soon.
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