Trade talks are central to progress on this pairing. Hopefully talks could be nearing a conclusion, or at least offer clues to future direction.
There’s a big fear premium in CAD and sensible to be cautious until details are released . Seasonality points to stronger CAD for the month of April along with the possibility of a topping formation noticeable on the chart .
I will be attempting to collect small shorts this week with a view to adding if price falls below 1.2790 ( blue area / neckline on chart ) the 38.2% move from this years swing – low to high .