USDCAD is dropping below the 1.3325 trend line I’ve mentioned recently. Today’s Consumer Price Index (CPI) numbers came in just under forecast, helping support the rally from stocks. It’s also triggered another down day for the US Dollar Index (DXY). As for USDCAD, the pair is trading below the 1.3325 November trend line. But the intraday price action is less significant than the 5 pm EST daily close. A daily close below this trend line at 1.3325 would signal a breakdown from USDCAD less than 24 hours ahead of Wednesday’s Fed rate decision. However, you should question any significant break ahead of high-impact news. ... (full story)