USD/CAD settled above the resistance at 1.2300 and is testing the next resistance at 1.2325.
The Canadian dollar edged lower against its U.S. counterpart on Thursday as investors continued to take in the Federal Reserve's more hawkish guidance, with the loonie giving back some of this week's gains. "It could be more consolidative, a bit choppy in the short term here as markets continue to digest last week's FOMC," said Erik Nelson, a currency strategist at Wells Fargo in New York. "We'd expect some downward pressure on the loonie in the short term."
A busy economic calendar puts the EUR and the U.S in focus later today. The Bank of England monetary policy decision will be the main event of the day, however.