As I suggested in my last post, this pair looks good on the short side. The Central Bank of Canada announced that interest rates would be held at 4.25%, but suggested that rates would rise in the near future as a brake on increasing inflation.
The pair have responded with a fall of over 130 pips since the announcement, and I would suggest that further downwards moves are likely over the next few days and weeks. I am currencly sitting on some nice profits, but will keep these positions open for some time to come and will be looking to take my profits somwehere around the 1.3620 level.