The pair continues to consolidate (more than 2 weeks range) after its bounce on top of 0,94 and a test of parity. We consider that a major bottom is in place.
We were expecting a resumption of the uptrend sooner but the current market conditions don’t allow any trend development. Besides, the Oil seems to have found renewed strengh on top of its recent lows which weighs on the USD/CAD.
We will see how things develop but we will remain bullish as long as the market holds above 0,9780 (last swing low and 38% fib retracement).
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