There was a four hourly candlestick closed above Weekly R2. Comparing yesterday close just above pivot, this illustrate a huge boost in bullish strength. I guess this must be attributed to " Fed President John Williams said that March rate hike is quite possible due to the US inflation approaching the central bank's 2% target. " (source Dukascopy SA) . I'm expecting USDCAD to test weekly R3 1.33400. According to the currency strength meter USD is still weak, but CAD was clearly the weakest. Later on, when London session start. We should be able to get a clearly picture of whether USD will be a favorite for the remaining half of the week. Currently, there is an immediate support at daily S1 1.32300.
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