The (USDCAD) is gaining for a 2nd straight day, and now comfortably back above the psychologically key 1.25 whole figure level.  Significantly, the USDCAD has bounced off Monday’s fresh 2022 low, and is nearing the 38.2% Fib retrace of the March to April slide.  Odds are high that the USDCAD will continue trading with the range since November until June.  Watch for any progress or disappointments on Ukraine-Russia ceasefire talks, along with volatility accompanying Friday’s Canadian employment data.  Except for the weekly MACD which still slopes down, the weekly and daily RSI, Stochastics and MACD are bottomish or rallying.  I am looking to enter long in the green zone (of the daily chart), targeting the red zone for Wednesday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).  Click here for analysis on GBPAUD, VIX

USDCAD Weekly/Daily/4hr

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(FXC)