The US Dollar swooned against its Canadian counterpart, losing its grip on the 1.09 figure and sinking to the lowest level in a month. Sellers are testing support at 1.0892, the 38.2% Fibonacci expansion, with a break below that exposing the
Entering short at current levels looks unattractive from a risk/reward perspective with prices in close proximity to relevant support. On the other hand, the absence of a defined upward reversal signal argues against taking up the long side. We will remain flat for the time being.