It’s been a busy couple of weeks for USD/CAD. First, bulls took charge and produced a bullish breakout that led into last week’s FOMC rate decision. USD/CAD strength had started to show in earnest the week before at the Bank of Canada rate decision, and we moved closer to the Fed’s rate meeting buyers pushed price all the way up to a key resistance zone at 1.3850-1.3900. This was a fresh yearly high for the pair and the top-end of that zone held the advance into FOMC day last Wednesday. The major takeaway for the FX market from that meeting was USD-weakness, which ran aggressively for the remainder of the week. Along ... (full story)