The US dollar is strong across the commodity bloc
The commodity currencies are struggling as the US dollar catches a broad bid. That’s helped to push USD/CAD to a fresh high since mid-August.
The latest push helped the pair above the August 31 high and above the 100-day moving average, two levels that have been closely watched.
The problem is that the Bank of Canada decision is tomorrow so it’s a dangerous game to be relying on technicals.