FXstreet.com (London) - USD/CAD is trading tightly range bound this session. Oil was slightly off on warmer weather forecasts in the US in previous days, this down move has been exacerbated by reports of overstocking. Oil still trading at around 78$.
General market sentiment has moved away from risk appetite territory after some of the first major reports for the year came back worst than expected. CPI figures however for the US came back flattish easing inflation fears.
Pair currently trades softly, range bound between 1.0295 and 1.0320.
USD/CAD currently trades at 1.0308, up 14 pips on the session. PreciseTrader see's continued range trading this session: Hourly Trend is Sideways while 10340 holds and Daily Trend is Sideways Down while 10490 holds, so expect the price to be Choppy and Downside may be limited….The Hourly Trend has been in a Range Trading with a downside limited, 10285-10340 are the critical levels to watch to maintain the bearish outlook