Nothing too notable on the chart for today, although there is some decent size range for USD/CAD around 1.2550-60. That said, I don’t think it sucks too much, although the 200 hourly moving average sits at 1.2561 and limits gains for now.
With the lack of interest ahead of the Easter holiday, the focus continues to be on risk sentiment as dictated by the “spike inflation” narrative that unfolded this week. There are still pushes and pulls on this, so dollar sentiment is also caught between this, with the greenback remaining slightly lower at the moment.
For more information on the use of this data, you can refer to this article here.