- USD/CAD has turned sideways after a perpendicular rally inspired by weaker oil prices.
- The USD Index has dropped sharply to near 101.75 as investors are anticipating neutral guidance from the Fed.
- USD/CAD is approaching the critical supply zone plotted in a range of 1.3648-1.3667.
The USD/CAD pair is displaying a sideways performance around 1.3620 in the Tokyo session. The Loonie asset displayed a perpendicular rally after defending the crucial support of 1.3540 as oil prices nosedived amid deepening fears of a recession in the United States.
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