USDCAD ahead of the Canadian CPI

We are currently trading inside a short term support zone and from here we could see a break in either direction. Most likely CPI (which will be released during the US session) will trigger a larger move and taking into account that larger TF trend is up makes short positions more riskier. Hence, longs should be preferred.

However, as always - trading news is very risky and the smart move here would be to wait until the risk event is over and then re-analyse.