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The Canadian Dollar has seen some selling pressure as of late, but last week, the BOC once again did not cut rates which the market has largely been expecting. Today we see the CAD continue to sell off even further.
With net shorts building on on the Yen this week, we've seen the CADJPY hardly move so far this week. As it consolidates within a narrow range, between a rising trendline on 1H and resistance in ahead of 100. Will keep on eye on which way it breaks and look for some continuation.
With net shorts building on on the Yen this week, we've seen the CADJPY hardly move so far this week. As it consolidates within a narrow range, between a rising trendline on 1H and resistance in ahead of 100. Will keep on eye on which way it breaks and look for some continuation.