Just been watching USD/CAD and honestly the moves are pretty wild right now. Pair's sitting around 1.3550 and the bearish pressure is real - we're talking lower highs and lower lows on the daily, which usually signals more downside coming. Volume's been heavy on the down days too, so it's not just noise.

The fundamentals are actually backing up what the charts are showing. The Bank of Canada's been way more hawkish than people expected, while the Fed's looking soft on rate cuts. Plus oil's holding up, which obviously helps the loonie since Canada's sitting on all that crude. When I think about it in real terms, if you're converting 300 CAD in USD at these levels, you're getting hit compared to where we were months ago.

Technically, the next level I'm watching is 1.3450 - if we crack that, could see a real move lower. But some traders are saying this might be overextended, especially with how resilient the US economy's been. Either way, the setup favors shorts unless we see a decisive break back above 1.3620. The key will be what the inflation data shows from both countries - that's probably going to be the real driver from here.