1.2500 is still proving to be a sticking point...

1.2500 is still proving to be a sticking point for the Loonie vs its US peer, but Usd/Cad has pulled back from circa 1.2535 against the backdrop of firmer crude prices and the Canadian budget that was mixed in terms of 2020/21 and 2021/22 fy deficit forecasts vs prior projections, though pretty neutral on balance, awaiting CPI and the BoC on Wednesday. I have illustrated the make or break zone which will be the main factor to determine the overall mid trend of the next 4 - 5 weeks.