USD/CAD completes three-day reversal
USD/CAD broke the October high of 1.3313 after disappointing retail sales numbers and an inflation report that missed estimates.
The 1.3313 level is the 38.2% retracement of the drop this year and it had restrained the pair earlier this month after a break higher.
The three-day reversal higher has been fuelled a hint the Bank of Canada may cut rates sooner than anticipated. Poloz yesterday said the central bank had "actively discussed" cutting rates.
The next big level on my charts is 1.3575, which is the 50% retracement of the decline this year.