The information I have been getting over the last few days suggests that there are some very large stops building below .9950.
A different source is suggesting that both sides of the market remain very firm with buyers at regular intervals towards .9900 and sellers at regular intervals near 1.0200. Earlier in the year we saw market players like Russia playing the USD/CAD range very aggressively so perhaps that is again the case.
Think we’ll need to wait a few days (or perhaps a few months at current rate of movement
) to find out.