Loonie: Canada CPI is the central focus tomorrow.

2016年5月19日

FOMC Minutes yesterday provided fuel for the rally of USDCAD.

Some traders negatively still lean to SELL side, but I think the trend reversed two weeks ago with the break of long term descending trend line.

1.300 is a strong resistance and Kumo cloud also weight on price action.

But today USDCAD officially breaks 1.300 and enters Kumo cloud.

A move above Kumo cloud will mark for a new life of USDCAD after severe sell-off.

Tomorrow, the central focus is Canada CPI.

If it's positive, I think USDCAD will bounce back.

Otherwise, the rally will extend to 1.3300 even 1.3400

SMA100 is at 1.3400, and a minor resistance is 1.3300

In my opinion,I choose negative data, and 1.3300 for USDCAD tomorrow.

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