USDCAD Technical Analysis – Has the US CPI invalidated the breakout? ...Middle East

Fundamental OverviewThe USD yesterday was sold across the board following the soft US CPI report. The data made the market to price back in two cuts for this year. Later in the day though we got a bit more hawkish than expected FOMC decision where the dot plot showed that the Fed sees just one cut for this year despite the soft US CPI report. This gave the greenback a boost, but Fed Chair Powell backpedalled on the projections making them a bit less worrying as the central bank remains very data dependent. So, all in all, the US Dollar might still come under pressure as the risk sentiment should improve thanks to the soft US CPI. The CAD, on the other hand, has been a bit under pressure as t

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