USD/CAD sat fairly still during the session on Wednesday, even as oil fell apart. This suggests to us that the Loonie is stronger than we understood. The 0.98 level will continue to be very important, and should remain very resistive going forward.
The EUR/USD pair fell to test the 1.30 level, but found a supportive bounce at that level. For us, this market looks a bit overbought, but the fact is that it looks healthy at the moment. On the other hand, there is a lot of "noise up to the 1.33 level.
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