Oil remain at the center of attention in recent weeks with majority of oil producing countries are in favor to limit production. On the other hand today's FOMC meeting hinted a possible rate hike by Fed's in December 2016. So USDCAD remain a tricky pair to trade.

From technical perspective price action on USDCAD on Daily charts indicate price making higher highs and higher lows and there is still lot of room for this pair to go up. 1.3400 is an important resistance level and as such I am expecting price to move towards this level before we could see any sell off on this pair. On the other hand 1.3100 level remain a valid demand zone and as such lot of buying interest is expected this this level.
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