USDCAD - Likely to Bottom

Taking a look at the daily chart above, RSI is showing signs of oversold conditions. The most recent bearish impulse to the downside is likely to retrace at least to the 38.2% retracement level which is where I'm placing my bullish target at 1.3340.

In terms of sentiment and fundamentals, Jerome Powell speaks this Wednesday and Canadian CPI is expected to drop from the previous month indicating inflation is cooling off in Canada.

That's it - That's all - Trade Safe