USDCAD modestly corrects lower after the break higher yesterday. What next?

The USDCAD is modestly correcting lower in trading today after the break higher yesterday. The move to the downside was helped a little bit by the weaker US data today. However, the FOMC rate decision looms ahead with the Fed expected to be more hawkish certainly versus the last meeting. How hawkish they are will be the determining factor.

In this video, I outlne the technical levels in play and explain why.

This article was written by Greg Michalowski at www.forexlive.com.