The USD CAD is trading weaker this afternoon. The charts indicate a possible acceleration to the downside following a break through the swing bottom at 1.1981.
Results from the FOMC meeting are helping to drive the USD CAD lower. Currently the market is in a position to take out the last swing bottom at 1.1981. This trade is likely to accelerate the break to the downside and set up a potential test of the next swing bottom at 1.1759.
