USD/CAD fell for much of the session on Tuesday as the market continues to grind away in the current consolidation area. However, today's FMOC announcement and news conference could have a market moving effect on this pair, and as a result we think that waiting until after it is over is the way to go. Areas to watch will be the 0.98 handle and the 1.01 level.
GBP/USD had a reasonably strong day, and with any kind of "risk on" movement - this pair continues much higher. The pair is in fact a "buy on the dips" one unless we broke below the 1.59 level.
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