It is on the nexus of some elements
USD/CAD is in a vunerable spot. A dovish Fed might ship the pair again beneath the 100-dma and the lows of the 12 months at 1.3080. On the flipside, one thing on the hawkish aspect (or much less dovish than anticipated) might reinforce that as assist and ship it a lot increased. It could additionally spark rish aversion which might doubly add to the upside.