USD/CAD: Pullback Within a Constructive Medium-Term TrendUSD/CADOANDA:USDCADCephas2021Yesterday's softer U.S. payroll report triggered a broad U.S. dollar selloff, sending USD/CAD lower. From a macro perspective, this looks more like a corrective move than a trend reversal. Bullish Drivers Weak oil prices continue to limit Canadian dollar strength. Fed–BoC policy divergence remains supportive of USD. Medium-term trend structure is intact. Bearish Drivers Softer U.S. labor data. Lower Treasury yields. Short-term dollar weakness. Trading Plan Primary bias: Buy pullbacks. Invalidation: Sustained USD weakness combined with a strong recovery in oil. Trade Quality: A-